The SEC has approved several spot Ethereum ETFs. They'll start trading on Tuesday, July 23rd. This comes after weeks of back-and-forth on registration statements.
The U.S. Securities and Exchange Commission gave the thumbs up to a bunch of big names. 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, and Invesco Galaxy all got the nod. Grayscale's Ethereum Trust and Ethereum Mini Trust also got the green light.
James Seyffart tweeted about the approvals on July 22nd. "Official Ethereum ETF 'effective' filings are now coming in," he said.
The SEC's move follows their May 23rd approval of rule changes. These allowed spot Ether ETFs to be listed and traded. BlackRock's iShares Ethereum Trust will hit Nasdaq. Grayscale's Ethereum Trust is headed for the NYSE.
Most of these ETFs are keeping fees low. They're ranging from 0.15% to 0.25%. Bitwise is offering a competitive 0.20% fee. They're throwing in an initial discount for the first $500 million in assets. Grayscale's sticking out with a higher 2.5% fee. BlackRock's sitting at 0.25%.
Some issuers are getting creative with fees. Fidelity, 21Shares, Franklin Templeton, and VanEck are waiving fees for a bit. They'll do this until their products hit certain asset levels. Grayscale's Ethereum Mini Trust is waiving fees for six months. Or until it hits $2 billion in assets.
Regular folks can get in on the action too. They'll be able to buy these Ether ETFs through brokerages like Robinhood and Fidelity. It'll be just like buying other ETFs or stocks.
There's buzz about what this could mean for Ethereum's price. Some think increased institutional demand could lead to supply shortages. This might crank up price volatility and push Ethereum higher.
NYSE Arca confirmed listing approvals for Grayscale and Bitwise. CBOE gave the nod to Fidelity Investments, Franklin Templeton, Invesco, 21Shares, and VanEck. It's a big deal for regulated exposure to Ethereum.
The listing process was no walk in the park. It involved a two-step procedure. The SEC approved 19b-4 forms in May. This let NYSE Arca move forward with listing. The final step came on Monday when the SEC let registration statements become effective.
Some folks are pretty hyped about what this could mean. Bloomberg ETF analyst Eric Balchunas thinks it could open doors for other crypto ETFs. "Keep in mind after launch there are flows and then additional ETH products I'm sure, then Solana, and then... it's probably never going to end. The dam has broken," he said.
Some analysts are going wild with price predictions. They're talking about ETH hitting $100k and beyond. But let's not get ahead of ourselves. Only time will tell how this plays out.