There is less than an hour and a half before the start of trading in spot Ethereum ETFs. Key news on this topic for now:
1.#BlackRockhas already started buying#ETHfor its fund - 3030#ETHwere purchased for more than $10.5 million. Just the beginning 🔥.
2. Ethereum trust Grayscale transferred $1.1 billion worth of ETH to custodian Coinbase Prime (by the way, paying $0.93 in commissions). Since the morning there has been a huge activity on#ETHtransactions, examples with screenshots from the#WhaleAlertservice.
Grayscale has already launched the Grayscale Ethereum Mini Trust. Their flagship Grayscale Ethereum Trust was also listed on the NYSE.
3. #Bitwise, one of the issuers of the Ethereum ETF, has pledged to donate 10% of the profits of the Bitwise Ethereum ETF (ETHW) to the development of the Ethereum protocol for 10 years. The recipient organizations will be the Protocol Guild and the PBS Foundation. They made a similar commitment when launching their spot Bitcoin ETF.
Let us briefly recall the picture of exchanges, tickers and commissions (after the end of the promotion with discounts at the start):
The following will be traded on #NASDAQ:
-#BlackRockiShares Ethereum Trust, with ticker#ETHAand fee of 0.25%.
The following will be traded on #CBOE:
-#FidelityEthereum Fund, with ticker#FETHand commission 0.25%.
-#21SharesEthereum ETF, with ticker#CETHand commission 0.21%.
-#InvescoGalaxy Ethereum ETF, with ticker#QETHand commission 0.25%.
-#VanEckEthereum ETF, with ticker#ETHVand commission 0.2%.
-#FranklinEthereum ETF, with ticker#EZETand commission 0.9%.
The following will be traded on the #NYSE:
-#GrayscaleEthereum Fund (already holding 2.95 million#ETHfor $10 billion from the company trust) with the ticker#ETHEand a commission of 2.5%. You can expect the flow of about half of their coins to other funds, including the second fund of Grayscale themselves (the process is already underway) 👇
-#GrayscaleEthereum Mini Trust, with ticker#ETHand 0.5% commission.
-#BitwiseEthereum ETF, with ticker#ETHWand commission 0.2%.
According to Farside Investors as of July 22:
- the seed fund of the Ethereum ETHA BlackRock exchange fund is $10.6 million.
- the seed fund of the Ethereum CETH 21 Shares exchange fund is $2.3 million.
- the seed fund of the Ethereum exchange fund ETHW Bitwise is $2.5 million.
- the seed fund of the Ethereum EZET Franklin Templeton exchange fund is $2.7 million.
Ethereum ETF seed fund - the initial capital required to launch trading. Provided by a group of investors or institutions who contribute the necessary ETH to create the initial shares of the fund.
