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Two More Spot ETH ETFs Approved By The SEC Via 19b-4 Filing

Grayscale's Ethereum Mini ETF fund will launch with $1 billion in assets as the ten approved ETFs gear up for next weeks launch.

By Alex Ioannou

Last Updated: Jul 18, 2024

Grayscale's Ethereum Mini ETF fund will launch with $1 billion in assets as the ten approved ETFs gear up for next weeks launch.

The US Securities and Exchange Commission (SEC) has now approved two spot Ethereum exchange-traded funds (ETFs) – Grayscale Ethereum Mini Trust and ProShares Ethereum ETF.

Both companies will be launching on the New York Stock Exchange’s Arca platform.

Latest ETH ETFs Await SEC’s Approval Of S-1 Filings

 

The SEC’s approval came via Form 19b-4 filing, allowing NYSE Arca to begin the trading of the funds. However, trading for the two aforementioned ETFs cannot start just yet. The final hurdle includes awaiting comments on the ETFs’ respective S-1 filings.

The Grayscale Ethereum Mini Trust represents an evolution from its previous Ethereum Trust (ETHE), a closed-end fund that has since transformed into an ETF. This transition highlights Grayscale’s forward-thinking strategy of adapting to investor needs and regulatory standards while also offering more accessible investment products.

RELATED: Ethereum Price Soars Past $3,500 Amid Spot Ether ETF Optimism

Grayscale’s $ETH Fund To Launch With $1 Billion In Assets

James Seyffart, a Bloomberg ETF analyst, noted the following regarding Grayscale’s converted ETHE fund and the implications on its mini ETF ($ETH) fund. He said, “NOTE: 10% of $ETHE will be automatically spun off and into $ETH. $ETHE currently has $10 billion in assets. So $ETH should essentially start it’s life with $1 billion in assets”.

While initially stating that he wasn’t sure on the mini ETF’s fee structure, Seyffart has since updated his followers. In a later post, he confirmed, “The Grayscale mini ETH filing is in. Will charge 0.25%”.

A total of ten spot Ethereum ETFs are poised for imminent listing, with 7 of those 10 offering initial fee waivers.

Similar to the launch of Bitcoin ETFs, fee waivers are used as a tool to entice investors. Grayscale continue to buck that trend. Its Ethereum ETF fee is listed at 2.5%, the same as its Bitcoin ETF.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Disclaimer
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Alex Ioannou
Alex Ioannou
On-Chain Journalist

Alex is an aspiring writer focusing on the more degen side of the crypto world. Always on the lookout for the next hot narrative. Read More

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