Following the Securities and Exchange Commission’s approval of Spot Ethereum exchange-traded funds (ETFs) in May, these began trading on July 23. This comes on the heels of spot Bitcoin ETFs being approved in January — something that many have deemed a landmark decision for the crypto industry.
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Matt Wright, CEO of GaiaNet, argued that the launch of ETH ETFs marks a significant milestone in the integration of Ethereum into traditional finance.
“While it’s too early to predict which ETFs will ultimately prevail, the immediate impact is clear: a substantial influx of capital into Ethereum,” said Wright. “This competition among ETFs is likely to drive fees lower, benefiting investors.”
Yet, he also added that success will not be solely determined by fee structures, as effective marketing and investor education will play critical roles.
The SEC approved eight ETFs as well as approved the conversion of an existing trust- all of which invest directly in the digital asset. These are: the Grayscale Ethereum Mini Trust (ETH), Franklin Ethereum ETF (EZET), VanEck Ethereum ETF (ETHV), Bitwise Ethereum ETF (ETHW), 21Shares Core Ethereum ETF (CETH), Fidelity Ethereum Fund (FETH), BlackRock’s (BLK) iShares Ethereum Trust (ETHA) and the Invesco Galaxy Ethereum ETF (QETH). In addition, it approved Grayscale Ethereum Trust (ETHE) conversion to a spot ETF.
Here’s a look at some of these ETFs, which have different features, fee structures and bring distinct advantages to the table.
Fidelity Ethereum Fund
- Fees: Waived through December 31, 2024. At the start of next year, the fee will be 0.25% (25 bps), according to the prospectus.
- Share price as of July 26: $32.79.
One of the benefits of this fund is that the firm has been working since 2014 to develop a digital assets ecosystem.
“We drew on over a decade of experience in digital assets to deliver a spot ether exchange-traded product that enables investors to gain exposure to ether through thoughtful index and product design supported by dedicated trading and operations teams and industry-leading security,” said Cynthia Lo Bessette, Fidelity head of digital asset management, in an…
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