Spot Ethereum ETFs Approved for Trading Tuesday After SEC Greenlight
The SEC has approved several spot Ethereum exchange-traded funds (ETFs), allowing them to begin trading on Tuesday, July 23rd after weeks of registration statement revisions.
The U.S. Securities and Exchange Commission gave the green light to registration forms from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, and Invesco Galaxy, with forms for the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust also going into effect.
Official Ethereum ETF “effective” filings are now coming in. https://t.co/G6yOTt0epR
— James Seyffart (@JSeyff) July 22, 2024
On July 22, the US SEC) approved the final S-1 registration statements for the launch of spot Ethereum exchange-traded funds (ETFs) across major stock exchanges, including Nasdaq, the New York Stock Exchange (NYSE), and the Chicago Board Options Exchange (CBOE).
The approved issuers include BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, and Invesco Galaxy.
This approval follows the SEC’s green light on May 23 for rule changes that allowed spot Ether ETFs to be listed and traded. BlackRock’s iShares Ethereum Trust will be listed on Nasdaq, while the Grayscale Ethereum Trust will be on the NYSE.
Most spot Ether ETFs, except for the Grayscale Ethereum Trust, will offer management fees ranging from 0.15% to 0.25%.
Bitwise will offer a competitive 0.20% fee with an initial discount for the first $500 million in assets, contrasting with Grayscale’s higher fee of 2.5% and BlackRock’s 0.25% fee.
Also Fidelity, 21Shares, Franklin Templeton, and VanEck have announced they will waive fees for a certain period or until their products reach specific net asset thresholds.
The Grayscale Ethereum Mini Trust will waive fees for the first six months or
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