NYSE Arca Approves Spot Ethereum ETFs from Grayscale and Bitwise, Awaiting SEC Nod

The NYSE Arca has officially approved the listing and trading of spot Ethereum exchange-traded funds (ETFs) from asset managers Grayscale and Bitwise. This decision marks a significant step forward for the launch of these investment products, which are still pending the final approval from the U.S. Securities and Exchange Commission (SEC). According to documents filed with the SEC, the exchange confirmed its approval for the registration of Grayscale Ethereum Trust and Bitwise Ethereum ETF. Analysts are anticipating a launch date of July 23, contingent on the SEC’s authorization.

Bloomberg ETF analyst James Seyffart stated that once the SEC makes the funds’ prospectuses effective, trading could begin as soon as the next day. Both Grayscale and Bitwise are preparing for this moment, but they are joined by other companies too. The Chicago Board Options Exchange has already confirmed the launch of five other Ethereum-linked funds, including those from 21Shares, Fidelity, Invesco, VanEck, and Franklin. Like Grayscale and Bitwise, these funds also await the regulators’ approval.

Once available, retail investors will be able to purchase these Ether ETFs through brokers such as Robinhood or Fidelity, similar to how they trade other stocks and ETFs. The management fees for most of the Ether ETFs are expected to be relatively low, between 0.15% and 0.25%. Experts predict that these ETFs will not only increase institutional demand for Ethereum but could pave the way for the introduction of ETFs based on other cryptocurrencies, such as Solana’s SOL token. With the current price of ETH at $3,457, the market is watching closely as increasing interest could lead to price changes and greater supply concerns.