Ether ETFs to Launch in the US: What You Need to Know
On July 23, Spot Ether ETFs will be able to trade in the United States. The final S-1 registration statements required for the ETFs to debut on stock exchanges, such as the Chicago Board Options Exchange, the New York Stock Exchange (NYSE), and the Nasdaq, were approved by the US Securities and Exchange Commission (SEC) on July 22.
- BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, and Invesco Galaxy are among the prosperous spot Ether ETF issuers.
- The Grayscale Ethereum Trust will be listed on the NYSE, and the BlackRock-issued iShares Ethereum Trust will be listed on the Nasdaq.
New Era for Crypto Assets: Biden’s Withdrawal and Spot Ethereum ETFs
The base fee for all spot Ethereum ETFs will range from 0.15% to 0.25%, with the exception of the Grayscale Ethereum Trust. For a limited time or until the products reach a specific level in net assets under management, Fidelity, VanEck, Bitwise, Franklin, and 21Shares will forgo fees on their ETFs. Moreover, fees for the first six months or until the Grayscale Ethereum Mini Trust’s net assets exceed $2 billion would be waived.
On the other hand, the day following US President Joe Biden’s withdrawal from the 2024 race, the spot Ether ETFs were approved. In a recent report, eToro market analyst Josh Gilbert referred to Biden’s decision to withdraw from the race as a win for crypto assets.
The longer that we see Trump staying ahead in the election odds, the more crypto assets will price in his victory.
Gilbert
FAQ
Why is the Approval of Spot Ethereum ETFs Important?
The approval of Ether ETFs gives institutional and retail investors direct exposure to the ETH price. This could help Ethereum reach a wider audience of investors and increase liquidity in the market.
How Could the Approval of Ether ETFs Affect the Price of Ethereum?
The approval of Ether ETFs could increase demand for Ethereum, which could put upward pressure on the ETH price. With more investors entering the market, the ETH price can be expected to increase.
What are the Risks of Ether ETFs?
Ether ETFs are exposed to Ethereum’s price volatility, which can pose risks for investors. In addition, regulatory changes and market dynamics can also affect the performance of ETFs.
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