Spot Ethereum ETFs will begin trading on July 23 on US stock exchanges. The Securities and Exchange Commission (SEC) has given final approval to the launch of these innovative financial products, opening a new chapter in the history of cryptocurrency investments.
Approved applicants include financial giants such as BlackRock, Fidelity and Grayscale. Experts predict that the emergence of these ETFs will attract billions of dollars into the Ethereum ecosystem.
The Ethereum spot ETFs will be listed on leading U.S. exchanges, including Nasdaq, New York Stock Exchange, and Chicago Board Options Exchange. The SEC’s decision comes two months after it approved 19b-4 filings that allowed the listing and trading of Ethereum spot ETFs on the exchanges.
Most issuers set base fees in the range of 0.15% to 0.25%. Some companies, including Fidelity, 21Shares, Bitwise, Franklin and VanEck, offered fee waivers until certain net asset levels were met.
Industry analysts expect spot Ethereum ETFs to attract only 25% of the volumes that spot Bitcoin ETFs have seen in the first six months of their launch.
Interestingly, the approval of the Ethereum ETF coincided with a major political event: US President Joe Biden’s withdrawal from the 2024 election. Josh Gilbert, market analyst at eToro, described the decision as a “win for crypto assets,” noting: “The longer we see Trump leading the election forecasts, the more crypto assets will price in his potential victory.”
The launch of the Ethereum spot ETF marks a new stage in the development of the cryptocurrency market. This step should become a catalyst for further integration of digital assets into the traditional financial system.