All Ethereum ETFs approved in the US

It was unexpected, but it happened.

Despite historical approval Of 11 digits Bitcoin exchange traded fund In January, industry observers were pessimistic about the U.S. Securities and Exchange Commission’s (SEC) approval. Ethereum equivalent.

But on May 23, after months of little contact with applicants, regulators I quietly said yes to the product.

Exchange-traded funds (ETFs) are popular investment vehicles traded on stock exchanges. It allows investors to purchase stocks that track the prices of all underlying assets, from gold and foreign currencies to cryptocurrencies and technology stocks.

Like Bitcoin, the approval of a spot Ethereum ETF means fund managers can manage the purchase and storage of ETH digital coins, and people can purchase stocks that track its value. This gives people exposure to the second largest cryptocurrency by market capitalization.

Several well-known financial companies have received approval from the SEC. The product will be listed on the stock exchange this year, although there is still some more paperwork to be done before the funds can begin trading.

Introducing the ETH ETF that will soon be released on the market.

black stone

BlackRock, the world’s largest asset management company, received approval. iShares Ethereum Trust. first contaminated Form S-1 for product in November.

The company’s CEO, Larry Fink, appears to be passionate about cryptocurrencies and their networks. said “There is value in owning an Ethereum ETF.” He also said that “tokenization” was inevitable.

grayscale

Crypto asset manager Grayscale has received approval from the SEC. filing In October, there was a proposal to convert the Grayscale Ethereum Trust into a spot Ethereum ETF.

The current trust currently operates like a closed-end fund. However, if traded as an ETF, investors can easily redeem their shares. that Bitcoin Trust Since it was converted to an ETF in January, there is already a precedent for how these cryptocurrencies can be converted to a physical ETF.

Grayscale is a big part of the reason Bitcoin ETFs are currently trading in the US. At a landmark moment for the cryptocurrency industry last year, one judge said: I took the company’s side In the lawsuit, Wall Street’s biggest regulator agreed with the company that it lacked a coherent explanation for rejecting its proposed switch to a Bitcoin ETF after years of rejection.

The ruling paves the way for the SEC to grant permission to discover Bitcoin ETFs.

Ark Invest/21 weeks

ARK Invest, Cathie Wood’s large technology investment management firm. contaminated Last September, we proposed an Ethereum ETF to the SEC.

The ETF partners with cryptocurrency ETF issuer 21Shares and appoints Coinbase, the largest U.S. digital asset exchange, as custodian. This means that a recognized company holds and stores ETH in its products.

fidelity

Financial services giant Fidelity has made it clear that Cboe, the exchange where the product will be traded, wants to discontinue its Ethereum ETF in November.contaminated Filing a 19b-4 on behalf of a company.

Then, in March, the massive company filed an S-1 with the SEC for the Fidelity Ethereum Fund.

Van Eck

Asset manager VanEck was the first fund manager. file In 2021, the SEC proposed an Ethereum ETF. at the end of that year withdrew The proposal was later resubmitted.

The company’s Bitcoin ETF has been a successful product, and VanEck even exemption This fee is intended to better compete with other funds in the market.

Hashdex

Nasdaq in September contaminated Proposal for the Hashdex Nasdaq Ethereum ETF on behalf of Brazilian fund manager Hashdex.

Hashdex already has several cryptocurrency ETFs trading in Brazil. In the United States, the Hashdex Bitcoin ETF received approval from the SEC in January and began trading in March.

Franklin Templeton

Wall Street giant Franklin Templeton participated in the race When February comes contaminated Proposal to SEC. The company’s Franklin Bitcoin ETF was launched earlier this year and trades under the ticker EZBC.

Invesco/Galaxy Digital

Asset management giant Invesco You have submitted your proposal With Galaxy Digital on Mike Novogratz’s ETH ETF in September. that much Form S-1 It was mentioned that Invesco will be the sponsor of the product and that Galaxy Digital will act as the “executing agent” selling ETH to pay for the Invesco Galaxy Ethereum ETF.

By bit

Digital asset investment company Bitwise contaminated that Form S-1 Together with the SEC, we decided to offer a spot Ethereum ETF in March.

Matt Hougan, Chief Investment Officer at Bitwise said He expects the ETH ETF to launch in December and predicted it would be more successful if approved later this year anyway. At this point, after approval in May, it remains to be seen when it will actually be released.

Editor: Andrew Hayward

Editor’s note: This article was originally published May 11, 2024, and was last updated with new details on May 26.