Performance data from financial platforms like Bloomberg or ETF provider reports

9 Ethereum ETFs Set to Begin Trading on July 23 Following SEC Approval

Jul 22, 2024, 06:21 PM

The highly anticipated launch of Ethereum (ETH) Exchange-Traded Funds (ETFs) is set to begin trading on July 23, 2024. The approval from the U.S. Securities and Exchange Commission (SEC) marks a significant milestone for the cryptocurrency market. Major financial platforms such as the New York Stock Exchange (NYSE) and Cboe have cleared the listing of nine ETH ETFs, including those from Bitwise and Grayscale. Bitwise's Ethereum ETF (ETHW) will offer a 0% fee for the first six months and will donate 10% of its profits to Ethereum open-source developers. All ETFs will have management fees, and no staking will be offered initially. Experts predict that the launch could lead to substantial inflows, with estimates ranging from $5 billion to $10 billion, potentially driving Ethereum's price higher. Additionally, Bitwise has disclosed $2.5 million in seed capital for its ETF. The launch of these ETFs is expected to enhance Ethereum's liquidity and attract institutional investors, further solidifying its position in the financial markets.