The post Grayscale Spot Ethereum ETF Approved to List by NYSE Arca From July 23 appeared on BitcoinEthereumNews.com.

Key Points: The New York Stock Exchange Arca has confirmed the listing and trading of Grayscale spot Ethereum ETF, following SEC approval. Grayscale’s Ethereum Mini Trust, also listed on NYSE Arca, has reduced its fees to 0.15%, with no fees on the first $2 billion in assets for the first six months. Ethereum’s price has risen over 3% to around $3,450 amid growing interest in spot Ether ETFs. The New York Stock Exchange Arca (NYSE Arca) has announced the approval for the listing and trading of Grayscale spot Ethereum ETF. Read more: Ethereum ETF Trading Will Be Approved on July 23 NYSE Arca Greenlights Grayscale Spot Ethereum ETF Listing The approval, confirmed through filings with the U.S. Securities and Exchange Commission (SEC), allows Grayscale spot Ethereum ETF to begin trading under the Exchange Act of 1934. Grayscale Investments previously released a memorandum outlining the tax implications for the distribution of Ethereum Trust shares. Shareholders of the Grayscale Ethereum Trust as of 4:00 PM ET on July 18 are eligible for this distribution, marking the initial creation and allocation of ETH Trust shares. In addition to the Grayscale spot Ethereum ETF, NYSE Arca will list the Grayscale Ethereum Mini Trust, which has reduced its fees from 0.25% to 0.15%. Notably, for the first six months, there will be no fees on the first two billion dollars in assets under management (AUM). This fee reduction positions the Grayscale Ethereum Mini Trust as the lowest-cost spot Ether ETF, potentially setting a precedent for other ETFs in the sector. Ethereum Price Surges as Spot Ether ETFs Generate Buzz The listing process for these ETFs involved a detailed two-step procedure. Initial approval of 19b-4 forms by the SEC in May was the first step. The final approval, which is expected to be completed by Monday,…

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Filed under: News - @ July 23, 2024 2:18 am