⭐SEC Approves Grayscale and ProShares Ethereum ETFs🚀: Approved ETFs Still Have To Await Final Steps

The SEC has approved two new spot Ethereum ETFs: Grayscale Ethereum Mini Trust and ProShares Ethereum ETF. Both funds will be listed on the New York Stock Exchange's Arca platform, following a Form 19b-4 filing approval.

Although approved, these ETFs can't start trading immediately. The SEC still needs to review comments on the ETFs' S-1 filings.

“The Commission finds that the Proposals are consistent with the Exchange Act and applicable rules for a national securities exchange,” the SEC stated.

Grayscale Ethereum Mini Trust, evolving from the Grayscale Ethereum Trust (ETHE), marks a significant shift towards more accessible investment products. Bloomberg ETF analyst James Seyffart highlighted the strategic asset allocation to provide stability and cushion against potential outflows.

“The mini Ethereum ETF will launch with 10% of ETHE’s assets, helping to alleviate some of the likely Grayscale outflows,” Seyffart said.

ProShares Ethereum ETF enters slightly later, part of a broader wave of eight spot Ethereum ETFs awaiting final SEC approval. This follows extensive discussions between issuers and the SEC, ensuring rigorous scrutiny for investor protection.

The financial structure of these ETFs aims to attract investors, with most new Ethereum ETFs offering an initial 0% fee period. However, Grayscale’s funds will maintain a higher fee structure, similar to its Bitcoin funds, at 2.5%, reflecting its brand's premium and expertise in cryptocurrency investment.

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