SEC approves nine applications to launch spot ETH ETFs

What’s new? The US Securities and Exchange Commission (SEC) has formally approved investment companies’ Form S-1 applications to register securities of spot exchange-traded funds (ETFs) based on Ethereum, the largest altcoin. Trading of shares on US stock exchanges is expected to begin on July 23.

SEC page

What else is known? Nine spot ETH ETFs from ten issuers have been admitted to the market and will be traded on three leading US exchanges. Thus, Grayscale is launching two products at once: Grayscale Ethereum Trust under the ticker ETHE and Grayscale Ethereum Mini Trust under the ticker ETH, both on the New York Stock Exchange (NYSE) with leading US crypto exchange Coinbase as the coin custodian.

ETHE’s management fee immediately after launch will be set at 2,5%, the highest in the industry. ETH, on the other hand, has no fee at launch, but it will reach 0,15% after six months, or when it reaches the $2 billion mark in assets under management. This fee is the lowest in the industry.

BlackRock, the world’s largest investment company, is launching iShares Ethereum Trust under the ticker ETHA on the Nasdaq exchange, with Coinbase also acting as custodian. The fee at launch will be 0,12%, and after 12 months, or accumulation of $2,5 billion in assets under management, will increase to 0,25%.

Fidelity acts as the issuer of the Fidelity Ethereum Fund (FETH) on the CBOE exchange, while it will also act as the custodian of the cryptocurrency. There will be no management fee at launch, which will increase to 0,25% after December 31 this year.

VanEck is launching the VanEck Ethereum ETF (ETHV) fund on the CBOE exchange, with the US crypto exchange Gemini as the custodian of the coins. The product will have zero fees for a year, or until it accumulates $1,5 billion under management. Once either of these conditions are met, the fee will increase to 0,2%.

Bitwise Investment Company acts as the issuer of the Bitwise Ethereum ETF (ETHW) on the NYSE exchange with custodian Coinbase. It will also impose a 0,2% fee only after six months, or an accumulation of $500 million in assets under management. The company said it will allocate 10% of revenue to open-source Ethereum developers. Bitwise started a similar initiative when it launched its spot BTC ETF, directing 10% of revenue to Brink’s NPO, OpenSats, and Human Rights Foundation.

Источник: X.com

Franklin Templeton is launching the Franklin Ethereum ETF (EZET) on the CBOE exchange, with Coinbase as custodian. The company will introduce a 0,19% fee after January 31, 2025, or when it accumulates $10 billion under management.

Investment firms ARK Invest and 21Shares have jointly launched the 21Shares Core Ethereum ETF (CETH) fund on the CBOE exchange, with Coinbase also acting as custodian. There is no management fee at launch, and it will reach 0,21% after six months, or when $500 million has been accumulated under management.

Finally, Galaxy Digital and Invesco are acting as issuers of Invesco Galaxy Ethereum ETH (QUETH). The shares will trade on the CBOE with a 0,25% fee, which is imposed at launch with no additional conditions for further increases. The custodian, as with most other funds, is Coinbase.

BRN analyst predicts a decline in the ETH exchange rate on the launch day of spot ETFs

Trading of new products in the United States will begin on July 23

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At the time of writing the news, Ethereum is trading at $3462, having lost 0,6% overnight, with a weekly gain of 2,4% and a year-to-date gain of 52%.