After approving the listing of Bitcoin spot ETFs in January this year, the U.S. Securities and Exchange Commission (SEC) has now officially given the green light to Ethereum spot ETFs, including BlackRock, Fidelity, and Grayscale. All nine Ethereum spot ETF applications were approved, marking another milestone in the development of the cryptocurrency industry.
After the news broke, Ethereum briefly approached the $3,500 mark, but the gains failed to expand further. At the time of writing, it was hovering near $3,480, down 1.6% in the past 24 hours.
The 9 Ethereum spot ETFs approved for listing include issuers such as BlackRock, Fidelity, Franklin Templeton, Invesco, 21Shares, VanEck, and Bitwise. As for assets, Grayscale Ethereum Trust (ETHE), with an AUM of more than $9.1 billion, was also approved to convert into an ETF, and Grayscale Ethereum Mini Trust (ETH) was approved at the same time.
Major exchanges are gradually listing
The Chicago Board Options Exchange (CBOE) issued a notice stating that it has listed five Ethereum spot ETFs and is expected to open for trading at 9:30 a.m. Eastern Time on July 23 (9:30 tonight, Taipei time).
NYSE Arca also confirmed it will list Grayscale and Bitwise’s ETFs.
Could an Ethereum spot ETF offer staking in the future?
Issuers may next consider introducing staking in Ethereum spot ETFs, but this still needs approval from the U.S. SEC. Bloomberg ETF analyst James Seyffart said: “I think the question is not whether it will happen, but whether it will happen. when."
Jake Chervinsky, Variant’s chief legal officer, pointed out that “the U.S. SEC has no sufficient reason to prevent Ethereum spot ETFs from providing pledges.” He believes that investors can decide whether to participate after understanding the risks of pledge products.
It is expected to attract US$15 billion to US$20 billion in the first year of listing.
Some analysts expect that while the launch of spot ETFs is expected to help ether prices surge to $6,500, they speculate that inflows into these ETFs will not be as powerful as Bitcoin spot ETFs.
Research firm Steno Research estimates that the Ethereum spot ETF may see inflows of $15 billion to $20 billion in its first year, which is equivalent to the net inflow of the Bitcoin spot ETF within seven months of listing.
〈Another milestone in the currency circle! The U.S. SEC officially approved the listing of "Ethereum Spot ETF". This article was first published on "Blocker".
