Key takeaways:
- Spot Ether Exchange Traded Funds (ETFs) were authorized to start trading in the US on July 23.
- The SEC approved their 19b-4 applications on May 23, allowing spot Ether ETFs to be listed and traded on exchanges.
Spot Ether Exchange Traded Funds (ETFs) were authorized to start trading in the US on July 23.
The final S-1 registration statements required for the ETFs to debut on stock exchanges, such as the Chicago Board Options Exchange (CBOE), NYSE Arca, and Nasdaq, were approved by the US Securities and Exchange Commission (SEC) on July 22.
Among the prosperous spot Ether ETF issuers are Invesco Galaxy, BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, and VanEck.
The SEC approved their 19b-4 applications on May 23, allowing spot Ether ETFs to be listed and traded on exchanges. This occurred two months ago.
The NYSE Arca will offer the Grayscale Ethereum Trust, while the Nasdaq will list the iShares Ethereum Trust, which BlackRock issues.
With the exception of the Grayscale Ethereum Trust, all spot Ether ETFs will have a base cost ranging from 0.15% to 0.25%.
Fidelity, VanEck, Bitwise, 21Shares, and Franklin will waive fees on ETFs for a predetermined amount of time or until the products hit a predetermined net asset under the management threshold.
Moreover, fees will not be charged to the Grayscale Ethereum Mini Trust throughout the first six months or until its net assets reach $2 billion. One day after US President Joe Biden resigned from the 2024 race, the spot Ether ETFs were approved.
Industry observers predict that since the products’ inception a little more than six months ago, spot Ether ETFs will attract 10% to 20% of the flows observed by spot Bitcoin ETFs.
On July 23, Hong Kong will host the launch of Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Future Daily (-1x) Inverse Product (7376[.]HK). The CSOP Bitcoin Futures Daily (-1x) Inverse Product aims to offer investment returns that closely resemble the inverse daily performance of the S&P Bitcoin Futures Index.
