PANews reported on July 23 that according to Cointelegraph, digital asset management company Grayscale has confirmed that its two spot Ethereum ETFs have officially started trading on the New York Stock Exchange, which is a "milestone" moment for investors and the broader exchange-traded fund market. Currently, U.S. stocks are in pre-market trading, but the two ETFs have been listed on NYSE Arca.
ETHE is currently the world's largest Ethereum exchange-traded product, holding $9.19 billion worth of ETH. ETHE will charge investors a 2.5% management fee. Grayscale's second product, Grayscale Ethereum Mini Trust (ETH), has waived fees for the first six months, or until its net assets under management reach $2 billion. "ETH and ETHE will allow investors to invest in Ethereum's potential to create markets, change the financial system, leverage decentralized finance (DeFi), and drive innovation through trusted ETP wrappers - without having to directly purchase, store, or manage Ethereum," said John Hoffman, managing director of Grayscale, in a statement.
Earlier yesterday, it was reported that Grayscale Ethereum Mini Trust and Grayscale Ethereum Trust obtained listing and registration approval from NYSE Arca.
