The post These Are All the Ethereum ETFs Approved in the US appeared on BitcoinEthereumNews.com.

It was unexpected—but it happened.  Despite the historic approval of 11 spot Bitcoin exchange-traded funds in January, industry observers were pessimistic about the United States Securities and Exchange Commission (SEC) giving the green light to an Ethereum equivalent.  But on May 23, after months of little engagement with applicants, the regulator quietly said yes to the products.  An exchange-traded fund (ETF) is a popular investment vehicle that trades on a stock exchange. It allows investors to buy shares that track the price of an underlying asset—which could be anything from gold and foreign currencies to crypto and tech stocks.  The approval of spot Ethereum ETFs—just like the Bitcoin ones—means that fund managers can take care of buying and storing the ETH digital coins, and people can buy shares that track their value. This will give people exposure to the second-biggest cryptocurrency by market cap.  Several prestigious financial firms received the green light from the SEC. They still have to do a bit more paperwork before the funds start trading, but the products should be on stock exchanges this year.  Here are the ETH ETFs that will soon hit the markets. BlackRock BlackRock, the world’s biggest asset manager, got the green light for its iShares Ethereum Trust. It first filed an S-1 form for the product back in November. The firm’s CEO, Larry Fink, is seemingly enthusiastic about the cryptocurrency and its network, and has said that there is “value in having an Ethereum ETF.” He has also talked about “tokenization” being inevitable.  Grayscale Crypto asset manager Grayscale got a yes from the SEC after filing a proposal in October to convert its Grayscale Ethereum Trust into a spot Ethereum ETF.  The current trust right now operates like a closed-end fund. But when it trades as an ETF, investors will be…

---

Filed under: News - @ May 28, 2024 7:22 pm