The first Ethereum-linked spot ETFs will begin trading on U.S. stock exchanges today. The U.S. Securities and Exchange Commission (SEC) on July 22 approved the final S-1 registration statements required to launch an Ethereum ETF on stock exchanges including Nasdaq, the New York Stock Exchange (NYSE), and the Chicago Board Options Exchange.
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Po message Cointelegraph, approved issuers of Ethereum-based ETFs include major financial firms BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, and Invesco Galaxy. The move comes two months after the SEC approved their 19b-4 filings on May 23, allowing spot Ethereum ETFs to be listed and traded on exchanges.
BlackRock’s iShares Ethereum Trust will be listed on the Nasdaq, while the Grayscale Ethereum Trust will be traded on the NYSE. Most exchanges, with the exception of the Grayscale Ethereum Trust, will charge a base fee of 0.15% to 0.25% for buying and selling Ethereum ETFs. However, Fidelity, 21Shares, Bitwise, Franklin, and VanEck will waive fees for an unspecified period or until assets reach a certain volume. The Grayscale Ethereum Mini Trust (ETF) will also waive fees for the first six months or until its net assets reach $2 billion.
Experts estimate that the new Ethereum spot ETFs could attract between 10% and 20% of the inflows that Bitcoin has seen since its launch as a spot ETF just over six months ago.
Interestingly, the approval of the Ethereum ETF coincided with US President Joe Biden’s decision to drop out of the 2024 election, which some experts see as a positive factor for crypto assets. For example, Josh Gilbert, an analyst at investment company eToro, in a recent note for Cointelegraph described Biden’s decision to drop out of the race as a definite victory for crypto assets. “The longer we see Trump leading the election odds, the more crypto assets will be included in his victory,” Gilbert noted.
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