Trading of Ethereum ETFs Begins in the US
As of July 22, 2024, trading of exchange-traded funds (ETFs) based on the cryptocurrency ether has started in the United States. This significant event opens up new opportunities for investors looking to invest in Ethereum through traditional financial instruments.
List of Approved Companies
The list of companies approved by the U.S. Securities and Exchange Commission (SEC) includes leading players in the investment sector: 21Shares, Bitwise Asset Management, BlackRock, Invesco, Franklin Templeton, Fidelity Investments, and VanEck. The only exception was ProShares, which failed to submit the final version of the S-1 form for its fund.
New Ethereum ETFs
Among the newcomers on the stock market, the following Ethereum ETFs are presented:
- ETHA: iShares Ethereum Trust ETF by BlackRock
- CETH: 21Shares Core Ethereum ETF
- ETHW: Bitwise Ethereum ETF
- FETH: Fidelity Ethereum Fund
- EZET: Franklin Ethereum Trust
- QETH: Invesco Galaxy Ethereum ETF
- ETHV: VanEck Ethereum ETF
- ETHE: Grayscale Ethereum Trust
- ETH: Grayscale Ethereum Mini Trust
Features of Ethereum ETFs
These funds allow investors to benefit from price fluctuations in ether without directly purchasing the cryptocurrency. Each fund has its own features and management strategies, allowing investors to choose the most suitable product based on their investment goals and risks.
Potential for Future Developments
Senior analyst at Bloomberg Intelligence, Eric Balchunas, noted that while the current offerings do not include options for staking and redemption in-kind, such opportunities may arise in the future, possibly after the election of a new U.S. President. This could add flexibility and attractiveness to investments in ether.
Significant Step for the Industry
The launch of these ETFs marks a significant step for the cryptocurrency industry, demonstrating the growing interest of traditional financial institutions in digital assets and their integration into mainstream investment products.
