Breaking: Spot Ethereum ETFs to begin US trading on July 23

Brayden Lindrea2 hours agoBreaking: Spot Ethereum ETFs to begin US trading on July 23The approved spot Ether ETF applicants included BlackRock, Fidelity and Grayscale, and are expected to bring billions of dollars into the ecosystem.2450 Total views3 Total sharesListen to article 0:00Breaking newsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksSpot Ether(ETH) exchange-traded funds have been given the final approval to begin trading in the United States on July 23.

On July 22, the United States Securities and Exchange Commission approved the final S-1 registration statements necessary for their launch on their respective stock exchanges, including the Nasdaq, New York Stock Exchange and Chicago Board Options Exchange.

The successful spot Ether ETF issuers include BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck and Invesco Galaxy.

It comes two monthsafter the SEC greenlit their 19b-4 applications on May 23 — approving a rule change allowing spot Ether ETFs to be listed and traded on their respective exchanges.

The BlackRock-issued iShares Ethereum Trust will be listed on the Nasdaq, while the Grayscale Ethereum Trust will be listed on the NYSE. Official approval for the Bitwise Ethereum ETF"s launch. Source: New York Stock Exchange

All spot Ether ETFs except the Grayscale Ethereum Trust will offer a base fee between 0.15 and 0.25%.

However, Fidelity, 21Shares, Bitwise, Franklin and VanEck will waive fees for their spot Ether ETFs until a set time period ceases or their products reach a certain amount in net assets.

The Grayscale Ethereum Mini Trust will also waive fees for the first six months or until it reaches $2 billion in net assets, whichever comes first.Biden’s withdrawal, Ether ETFs could boost crypto

The spot Ether ETFs were approved a day after US President Joe Biden withdrew from the 2024 election.

Related:Ethereum will outperform Bitcoin after ETF launch — K33 Research

Biden’s decision to drop out from the race was described as a “win for crypto assets” by eToro market analyst Josh Gilbert in a recent note to Cointelegraph:“The longer that we see Trump staying ahead in the election odds, the more crypto assets will price in his victory.”

Industry analysts expect the spot Ether ETFs to muster somewhere between 10% to 20% of the flows that spot Bitcoin ETFs have seen since those products launched a little over six months ago.

Magazine:Bitcoin $500K prediction, spot Ether ETF ‘staking issue’— Thomas Fahrer, X Hall of Flame# Business# Ethereum# SEC# Adoption# Ether Price# Ethereum ETF# Bitcoin ETFAdd reaction