Cboe confirmed that trading will begin next week for several ETFs, such as those from Fidelity, VanEck, and others. These include the Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and 21Shares Core Ethereum ETF.
According to Cboe, "1 Exchange Traded Product ('ETP') will be listed on Cboe and will begin trading as a new issue on July 23, 2024," signaling their readiness.
These announcements follow approval from the U.S. Securities and Exchange Commission (SEC) in May, which was needed for firms to launch their Ethereum ETFs.
The firms are now waiting for their registration statements to take effect before the official launch. Bloomberg's Senior ETF Analyst, Eric Balchunas, expects trading to start on July 23 after firms seek regulatory approval.
The firms have also revealed their fee structures. For instance, Fidelity's fee is set at 0.25%, waived until the end of 2024. Franklin Templeton plans to waive fees on the first $10 billion of assets until January 31, 2025.
The firms have also revealed their fee structures. For instance, Fidelity's fee is set at 0.25%, waived until the end of 2024. Franklin Templeton plans to waive fees on the first $10 billion of assets until January 31, 2025.
VanEck intends to waive fees for a year on the first $1.5 billion, and 21Shares has set a 0.21% fee, waived for six months or until reaching $500 million in assets.
These new Ethereum ETFs are expected to give investors more ways to invest in Ethereum, strengthening its position in financial markets.
These new Ethereum ETFs are expected to give investors more ways to invest in Ethereum, strengthening its position in financial markets.
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Cryptos