Ethereum
Ethereum Crosses $3,500 as Ethereum Spot ETF Advance Nears Finish Line
Key points to remember
- Ethereum price jumped 11% in a week, driven by anticipation of Ethereum spot ETFs.
- Ethereum ETF issuers have published fee structures, with a competitive range between 0.19% and 0.25%, excluding Grayscale’s higher fees.
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The price of Ethereum (ETH) has surpassed $3,500, an 11% increase over the past week, according to TradingView data watch. The rally follows the CBOE announcement this point five Ethereum Exchange Traded Funds The (ETFs) will begin trading on the exchange on July 23.
As ETF issuers submit their latest S-1 forms, Bloomberg ETF analyst Eric Balchunas suggested several Ethereum ETFs Could Debut on July 23exactly two months after the SEC green light the first batch of Ethereum spot ETFs.
Upcoming launches on CBOE include Fidelity Ethereum Fund (FETH), Franklin Templeton Ethereum ETF (EZET), Invesco Galaxy Ethereum ETF (QETH), VanEck Ethereum ETF (ETHV), and 21Shares Core Ethereum ETF (CETH).
These funds, along with those of BlackRock and Grayscale Ethereum Trust, received initial approval from the U.S. Securities and Exchange Commission (SEC) in May. BlackRock’s iShares Ethereum Trust is expected to launch on the Nasdaq while Grayscale Ethereum Trust is expected to debut on the NYSE, though neither exchange has made any official announcements yet.
Most Ethereum ETF issuers have unveiled their fee structures ahead of the upcoming launch. Despite initial fee waivers offered by some issuers to attract investment, post-waiver fees across most asset managers are relatively similar with no significant price competition.
Franklin Templeton offers the lowest price waiver fee after deduction of 0.19%while Grayscale’s ETF management fees are considerably higher, at 2.5%. The fee range for other issuers, with the exception of Grayscale Ethereum Mini Trust, is between 0.20% and 0.25%, according to data from Bloomberg ETF analyst James Seyffart.
Ethereum started the week strong with the Prices rise 5% to over $3,300 as the market awaits SEC approval for Ethereum spot fund transactions. Ethereum is currently trading at $3,500 and is still down about 28% from its all-time high of $4,800, according to data from TradingView.
The final approval is expected to have a positive impact on the Ethereum market and the broader crypto industry. This could attract large flows institutional and retail capital into Ethereum, potentially mirroring the success of Bitcoin spot ETFs.
According to TradingView dataBitcoin’s price surged more than 40% after the launch of Bitcoin spot funds in the US in January, despite an initial correction. The flagship cryptocurrency hit a new all-time high of $73,000 in mid-March.
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