It’s now official: Ethereum spot ETFs are landing on US exchanges after the famous S-1 forms have been approved. Are we going to witness the same scenario as the spot Bitcoin ETFs launched last January?
The race for Ethereum spot ETFs begins in the US
As predicted by most analysts,The Ethereum spot ETFs have received approval from regulators to launch on US exchanges on Tuesday, July 23rd. These are the long-awaited S-1 forms that were approved, 2 months after 19b-4, which signaled the imminent arrival of these ETFs based on Ether.
It’s official: Spot Eth ETFs have been enabled by the SEC. The 424(b) forms are rolling in now, the final step = all systems go for tomorrow’s launch at 930. Then the game is on. pic.twitter.com/9MaBDBA8co
— Eric Balchunas (@EricBalchunas) 22 July 2024
As was the case for the launch of spot Bitcoin ETFs last January, we can expect a new battle from the various issuers to capture the maximum volume of these new investment instruments.
💵 How to invest in an Ethereum spot ETF?
We generally find the same ETF issuers in the run, apart from Ark Invest, Hashdex and Valkyrie, which are absent. So here are the Ethereum spot ETFs now available with their respective fees, exchanges and custodians:
Various Ethereum spot ETFs launched in the US with their respective specificities
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Thus, BlackRock’s ETHA is launched on Nasdaq, Grayscale’s minitrust (ETH) and its ETHE and Bitwise’s ETHW are launched on the New York Stock Exchange (NYSE), while the others land on the Chicago Board Options Exchange (CBOE).
Apart from BlackRock, Invesco and Grayscale, all issuers have decided to launch their spot Ethereum ETF without trading fees to capture maximum volume. At the same time, we can note that Coinbase has been chosen as the custodian bank for almost all ETFs, except for Fidelity, which will manage its own securities and VanEck’s ETHV, which will be with Gemini.
🗞️ In Ethereum news – The Keplr wallet becomes compatible with the Ethereum (ETH) ecosystem
With Bitcoin and Ethereum spot ETFs now officially launched, the next countdown will deal with possible ETFs based on Solana’s SOL cryptocurrencyVanEck had opened hostilities at the end of last month.
The price of Ether reacted negatively to the news, posting a 2.30% drop over the last 24 hours. Ether is trading at $3,450.
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Source: James Seyffart
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