🚀 Crypto news 🌐 #ETH #ETF
Ethereum ETFs will begin trading on the stock exchange this Tuesday, July 23.
The U.S. Securities and Exchange Commission (SEC) has given final approvals for Ethereum spot ETFs, clearing the way for the funds to begin trading this Tuesday, July 23.
Such funds received initial approval in May in a surprise regulatory change by the SEC, and have spent the past few weeks submitting updated and finalized forms. Now, 424(b) approvals are coming in and Ethereum spot ETFs have been made effective by the SEC, meaning they can begin trading.
Several companies intend to launch Ethereum spot ETFs in the United States, and the list includes heavyweights such as BlackRock, Fidelity, Franklin Templeton, and Grayscale.
The final approvals of Ethereum spot ETFs in the United States come just six months after Bitcoin spot ETFs began trading in the country, and many of the same names behind Bitcoin funds also made a push of Ethereum. So far, Bitcoin ETFs have generated over $17 billion in total inflows since their launch.
The price of Ethereum has fallen slightly since the final SEC approvals emerged on Monday afternoon, with the price of ETH falling in the last hour to $3,447 at the time of writing. In fact, while there has been widespread anticipation for the start of trading in Ethereum ETFs, there has also been pessimism, with Wintermute projecting "lower-than-expected demand."