Late yesterday the Securities and Exchange Commission (SEC) officially approved Ethereum spot exchange-traded funds (ETFs) to begin trading today! Following in Bitcoin's footsteps, the world's second-largest cryptocurrency will now be accessible to investors through traditional markets.
Here's the list of the newly approved Ethereum ETFs and where you can find them:
Grayscale Ethereum Mini Trust (ETH) - New York Stock Exchange
Franklin Ethereum ETF (EZET) - CBOE Exchange
VanEck Ethereum ETF (ETHV) - CBOE Exchange
Bitwise Ethereum ETF (ETHW) - New York Stock Exchange
21Shares Core Ethereum ETF (CETH) - CBOE Exchange
Fidelity Ethereum Fund (FETH) - CBOE Exchange
iShares Ethereum Trust (ETHA) - Nasdaq
Invesco Galaxy Ethereum ETF (QETH) - CBOE Exchange
In addition to these, the SEC has also given the green light for Grayscale to convert its Grayscale Ethereum Trust (ETHE) to a spot ETF, which is a big deal for those tracking crypto investments.
For those of you who are new to ETFs, or exchange-traded fund, is an investment fund that owns the underlying asset it represents—in this case, Ethereum. When you buy shares of an Ethereum ETF, you are essentially buying a portion of the Ethereum owned by the ETF, which is managed by a financial company. This way, you can invest in Ethereum without needing to buy, store, or manage the cryptocurrency yourself.
Major BULL RUN Coming?!What caught my eye is when looking back to May when the SEC approved Ethereum ETFs (said they will allow them, but did not yet have a launch date) it appears investors didn't react to the news by buying more ETH, in fact it looks like any normal day on the charts. When Bitcoin ETF's received the same approval investors responded in such large numbers it was actually credited with brining back the bull market. So by the time Bitcoin ETF's launched, most investors reacting to the news did so days/weeks earlier. I don't make price predictions, but I think it's at least worth considering the market may react to Ethereum's ETFs when they launch... which is today.
-------------------Author: Oliver ReddingSeattle Newsdesk / Breaking Crypto News
Subscribe to GCP in a reader
