It is now official: Ethereum spot ETFs are landing on US stock exchanges after the famous S-1 forms were approved. Are we going to see the same scenario as for the Bitcoin spot ETFs launched last January?
The race for spot Ethereum ETFs begins in the United States
As predicted by most analysts, theEthereum spot ETFs have received regulatory approval to launch on U.S. exchanges on Tuesday, July 23. These are the long-awaited S-1 forms that have been approved, 2 months after the 19b-4 which signaled the imminent arrival of these ETFs based on Ether.
It's official: Spot Eth ETFs have been made effective by the SEC. The 424(b) forms are rolling in now, the last step = all systems go for tomorrow's 930am launch. Game on. pic.twitter.com/9MaBDBA8co
— Eric Balchunas (@EricBalchunas) July 22, 2024
Just as was the case for the launch of Bitcoin spot ETFs last January, We can expect a new battle from the various issuers in order to capture the maximum volume on these new investment vehicles..
💵 How to invest in an Ethereum spot ETF?
We find the same ETF issuers in the running, except for Ark Invest, Hashdex and Valkyrie which are absent. So, here are the Ethereum spot ETFs that are now available with their respective fees, exchanges and custodians:
Different Ethereum Spot ETFs Launched in the United States with Their Respective Specificities
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Thus, BlackRock's ETHA is launched on the Nasdaq, Grayscale's mini trust (ETH) as well as 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 in order to capture maximum volume. At the same time, we can observe that Coinbase has been chosen as the depository for almost all ETFs, except Fidelity which will manage its own securities and VanEck's ETHV which will be at Gemini.
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With Bitcoin and Ethereum spot ETFs now officially launched, The next countdown will be for possible ETFs based on Solana's SOL cryptocurrencyVanEck having 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 now trading at $3,450.
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Source: James Seyffart
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