A series of spot Ethereum (ETH) exchange-traded funds (ETFs) are expected to begin trading on U.S. exchanges today after receiving regulatory approval.
The U.S. Securities and Exchange Commission (SEC) has given a green light for Ethereum ETFs to launch six months after the Wall Street regulator approved spot Bitcoin (BTC) ETFs.
Several fund issuers plan to launch spot Ethereum ETFs today (July 23), including BlackRock (BLK), Fidelity, Ark Invest and VanEck.
Grayscale has said that it plans to convert its multibillion-dollar Ethereum Trust into two separate spot ETFs that will offer different fees to investors.
Analysts expect success for the spot Ethereum ETFs that allow investors to track the price movements of the second largest cryptocurrency without having to physical hold the asset in a digital wallet.
Spot Bitcoin ETFs have been a resounding success since their launch this past January, attracting more than $20 billion U.S. of net inflows.
Bitwise, which is also launching an Ethereum ETF, has forecast that the group of crypto funds will attract $15 billion U.S. in their first 18 months on the market.
Some analysts expect investors to hold both Bitcoin and Ethereum ETFs in their portfolios.
The price of Ethereum has risen 49% on the year and is currently trading at $3,500 U.S. per digital token.
