Late yesterday the Securities and Exchange Commission (SEC) officially approved Ethereum spot exchange-traded funds (ETFs) to begin trading today! Following in Bitcoin's footsteps, the world's second-largest cryptocurrency will now be accessible to investors through traditional markets.
Here's the list of the newly approved Ethereum ETFs and where you can find them:
- Grayscale Ethereum Mini Trust (ETH) - New York Stock Exchange
- Franklin Ethereum ETF (EZET) - CBOE Exchange
- VanEck Ethereum ETF (ETHV) - CBOE Exchange
- Bitwise Ethereum ETF (ETHW) - New York Stock Exchange
- 21Shares Core Ethereum ETF (CETH) - CBOE Exchange
- Fidelity Ethereum Fund (FETH) - CBOE Exchange
- iShares Ethereum Trust (ETHA) - Nasdaq
- Invesco Galaxy Ethereum ETF (QETH) - CBOE Exchange
In addition to these, the SEC has also given the green light for Grayscale to convert its Grayscale Ethereum Trust (ETHE) to a spot ETF, which is a big deal for those tracking crypto investments.
For those of you who are new to ETFs, or exchange-traded fund, is an investment fund that owns the underlying asset it represents—in this case, Ethereum. When you buy shares of an Ethereum ETF, you are essentially buying a portion of the Ethereum owned by the ETF, which is managed by a financial company. This way, you can invest in Ethereum without needing to buy, store, or manage the cryptocurrency yourself.
Major BULL RUN Coming?!
What caught my eye is when looking back to May when the SEC approved Ethereum ETFs (said they will allow them, but did not yet have a launch date) Ethereum made some gains but, but there were multiple positive news stories that month, mainly US traders receiving conformation ETH 2.0 will not be viewed as a Security, and Ethereum's gains in May were mostly credited to news that US exchanges wouldn't have to de-list it.
When Bitcoin ETF's received the same approval investors responded in such large numbers it was actually credited with brining back the bull market. So by the time Bitcoin ETF's launched, most investors reacting to the news did so days/weeks earlier. This also likely had investors assuming
I don't make price predictions, but I will make a suggestion that you take a look - when the market doesn't react to the announcement, it often means it will react to the launch.
Those offering the ETH ETF are mostly the same companies that already offer the Bitcoin ETF, and they've done quite well, bringing in hundreds of millions of dollars. They will now promote the ETH ETF to those same investors - and selling a token via an ETF requires the company to actually buy and own the asset.
So, just something to consider.
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Author: Oliver Redding
Seattle Newsdesk /
