Many large investment firms have received approval from the U.S. Securities and Exchange Commission (SEC) to list spot Ethereum ETFs in the U.S. Here is a list of those in the works.

It was unexpected, but it happened.

Despite the historic approval of 11 spot Bitcoin ETFs in January, industry analysts are not optimistic about the prospects of the SEC approving an Ethereum ETF.

Yet on May 23, regulators quietly approved the products after months of little communication with applicants.

Exchange-traded funds (ETFs) are popular investment products traded on stock exchanges. They allow investors to buy shares that reflect the price of a specific asset, which can include gold, foreign exchange, cryptocurrencies, and technology stocks.

Approval of a spot Ethereum ETF, like a Bitcoin ETF, means that fund managers can be responsible for purchasing and storing the digital currency Ethereum (ETH), while investors can purchase shares of these ETFs to track the value of Ethereum. This will give investors exposure to the second largest cryptocurrency by market capitalization.

Several reputable financial firms have already received approval from the U.S. Securities and Exchange Commission (SEC), and although some necessary paperwork needs to be completed before the funds can begin trading, the products are expected to be officially listed for trading this year.

Here is a list of Ethereum ETFs that are about to hit the market.

BlackRock

BlackRock, the world’s largest asset manager, has received approval for its iShares Ethereum Trust. The company first filed an S-1 registration statement for the product last November.

Larry Fink, CEO of BlackRock, has shown great enthusiasm for cryptocurrencies and their networks. He believes that there is great value in owning an Ethereum ETF and said that "tokenization" is an inevitable trend.

Grayscale

Cryptocurrency asset manager Grayscale filed an application in October last year and later received approval from the U.S. Securities and Exchange Commission (SEC) to transform its Grayscale Ethereum Trust into a spot Ethereum ETF.

The current trust operates like a closed-end fund. However, once it is listed and traded as an ETF, investors will be able to easily redeem their holdings. Grayscale's Bitcoin Trust successfully converted to an ETF in January, setting a precedent for how similar cryptocurrency instruments can be transformed from closed-end funds to spot ETFs.

Grayscale is a key driver of Bitcoin ETF trading in the United States. Last year, the crypto industry experienced a landmark event when the company won the support of a judge in a legal battle. The judge agreed with Grayscale that the United States' largest financial regulator (SEC) lacked a consistent explanation when rejecting its proposal to convert the Bitcoin Trust into a Bitcoin ETF. This victory paves the way for the approval of a Bitcoin ETF, despite the SEC's rejection of such proposals for years.

The ruling paves the way for the U.S. Securities and Exchange Commission (SEC) to approve a spot Bitcoin ETF.

ARK Invest/21Shares

Cathie Wood's heavyweight technology investment management company ARK Invest submitted a proposal for an Ethereum ETF to the SEC as early as September.

ARK Invest has partnered with crypto ETF issuer 21Shares to submit an Ethereum ETF proposal to the SEC. Coinbase, the largest digital asset exchange in the United States, has been designated as the custodian of the ETF, responsible for holding and storing Ethereum (ETH) in the ETF product.

Fidelity

Financial services giant Fidelity made its intention to launch an Ethereum ETF clear in November. At the time, Cboe Exchange (the platform on which Fidelity plans to list and trade the ETF) filed a Form 19b-4 on behalf of Fidelity, which is a formal document to the SEC to apply for listing and trading.

Then, in March, the mega-firm filed an S-1 form with the SEC for its Fidelity Ethereum Fund.

VanEck

Asset management company VanEck was one of the first fund management companies to submit an Ethereum ETF proposal to the U.S. Securities and Exchange Commission (SEC), submitting the proposal in 2021. Later that year, VanEck withdrew the proposal but later resubmitted it.

The company’s Bitcoin ETF product has been successful in the market, and in order to gain an advantage over the competition, VanEck even eliminated fees for its Bitcoin ETF.

Hashdex

Nasdaq submitted a proposal for its Hashdex Nasdaq Ethereum ETF in September on behalf of Brazilian fund manager Hashdex.

Hashdex has listed and traded several cryptocurrency ETFs in Brazil. In the United States, Hashdex's Bitcoin ETF was approved by the U.S. Securities and Exchange Commission (SEC) in January and began trading in March.

Franklin Templeton

Wall Street giant Franklin Templeton joined the fray by submitting a proposal to the SEC in February. The firm’s Franklin Bitcoin ETF was launched earlier this year and trades under the ticker EZBC.

Invesco/Galaxy Digital

Asset management giant Invesco submitted a proposal for an Ethereum ETF to the U.S. Securities and Exchange Commission (SEC) in September in partnership with Mike Novogratz's Galaxy Digital. The S-1 filing shows that Invesco will serve as the backer of the ETF, while Galaxy Digital will serve as its "execution agent," responsible for selling Ethereum to pay for the Invesco Galaxy Ethereum ETF.

Bitwise

Digital asset investment management company Bitwise submitted an S-1 registration statement to the SEC in March with the aim of launching a spot Ethereum ETF.

Matt Hougan, chief investment officer at Bitwise, said he expects Ethereum ETFs to launch in December and predicted that if these ETFs can be approved by the end of the year, they will be more successful. Currently, with approval already in May, we need to pay attention to when these ETFs can officially start trading. $BTC $ETH

Conclusion:

With several well-known investment companies receiving approval from the U.S. Securities and Exchange Commission (SEC), the listing of Ethereum ETFs will undoubtedly provide investors with more opportunities to get in touch with the second largest cryptocurrency by market value. This not only marks an important step in the integration of the cryptocurrency market with the traditional financial system, but also provides investors with a more convenient and safe way to participate. With the official listing of these ETFs, we can expect the cryptocurrency market to usher in new vitality and a broader investor base. #以太坊ETF #投资公司 #SEC