Ethereum ETF Trading Is Now Listed On Bloomberg In Preparation For July 23 Launch

Key Points:

• Bloomberg Terminal has added some Ethereum ETFs in preparation for next week’s trading.
• The SEC previously approved Ethereum ETF trading, with the start date set for July 23, 2024.
• The approval follows the SEC’s earlier green light for Bitcoin ETFs and addresses long-standing regulatory issues surrounding Ethereum.

Bloomberg analyst James Seyffart reports that the Bloomberg Terminal has prepared to list Ethereum ETFs ahead of next week’s trading.

Read more: Ethereum ETF Issuers Race to Launch Funds Amid Competitive Fee Strategies

Ethereum ETF Trading Is Ready for July 23 Launch

The U.S. Securities and Exchange Commission (SEC) has given the green light for the Ethereum ETF trading, with activity expected to commence on July 23.

The development follows the SEC’s approval of eight Ethereum ETFs on May 23, 2024. It marks a major step in expanding institutional and retail investment opportunities in cryptocurrency markets. The green light for these ETFs follows the successful launch of Bitcoin ETFs earlier this year and addresses longstanding regulatory uncertainties surrounding Ethereum.

Top Asset Managers Unveil Competitive Fee Structures

The approved ETFs are set to be offered by eight asset managers: BlackRock, 21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital. Each ETF is expected to be similar, with competitive fees. Preliminary information indicates that Franklin Templeton will charge a fee of 0.19%, VanEck 0.20%, and Invesco/Galaxy Digital 0.25%.

Final fee structures will be confirmed when the issuers submit their final registration statements (S-1s) next Tuesday, alongside the commencement of Ethereum ETF trading.

According to a report by the crypto research firm K33, ether might encounter a similar response. As a “sell-the-news” event, the Ether price will drop immediately following the ETF launch, but it may still rise and surpass Bitcoin in the upcoming months.