Ethereum ETFs Obtain Approval For Trading Tuesday After SEC Greenlight

This milestone follows weeks of revisions to registration statements submitted by industry leaders like 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, and Invesco Galaxy. Additionally, the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust have also received approval, signaling a significant expansion in Ethereum-based investment opportunities.

With this approval, investors now have more avenues to gain exposure to the rapidly growing Ethereum market.

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• Ethereum ETFs Trading Starts July 23, 2024 
• What is the Approval Process?
• Where & How to Buy Ethereum (ETH)?

Ethereum ETFs Trading Starts July 23, 2024

Leading issuers such as BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, and Invesco Galaxy have been given the greenlight to launch their respective spot Ethereum ETFs.

This approval comes as a follow-up to the SEC’s approval of rule changes on May 23, 2024, that paved the way for the listing and trading of spot Ether ETFs.

Among these issuers, BlackRock’s iShares Ethereum Trust will be listed on Nasdaq, while the Grayscale Ethereum Trust will be listed on the NYSE.

Most spot Ether ETFs, excluding the Grayscale Ethereum Trust, offer competitive management fees ranging from 0.15% to 0.25%.

Bitwise, for instance, will charge a 0.20% fee with an initial discount for the first $500 million in assets under management, setting itself apart from Grayscale’s higher 2.5% fee and BlackRock’s 0.25% fee.

Other issuers like Fidelity, 21Shares, Franklin Templeton, and VanEck have also announced plans to waive fees for a specific period or until their products reach certain net asset thresholds.

The Grayscale Ethereum Mini Trust will waive fees for the first six months or until it accumulates $2 billion in assets.

This unprecedented access to Ethereum investments through ETFs will significantly benefit retail investors, who can now purchase these Ether ETFs through popular brokerages like Robinhood and Fidelity, similar to other ETFs and stocks.

The anticipated influx of institutional demand could potentially lead to supply shortages, further fueling price volatility and potentially driving Ethereum’s price to new heights.

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What is the Approval Process?

The New York Stock Exchange Arca has confirmed the listing and trading approval of Grayscale and Bitwise’s ETFs, representing a significant milestone in the regulation of Ethereum.

Concurrently, CBOE has affirmed that its proposed spot Ethereum ETFs, involving Fidelity Investments, Franklin Templeton, Invesco, 21Shares, and VanEck, will start trading on the same day.

Documents submitted to the Securities and Exchange Commission (SEC) reveal that the New York Stock Exchange Arca has approved the registration and listing of Grayscale and Bitwise’s spot Ethereum ETFs under the Securities Exchange Act of 1934.

This certification signifies the acceptance by regulators and the official entry of these financial products into the market, aiming to provide investors with a regulated means of accessing Ethereum.

The listing process comprises a comprehensive two-step procedure. The initial step was the SEC’s approval of the 19b-4 form in May,  which is essential for NYSE Arca to proceed with the listing.

The final step, finalized on Monday, was the SEC’s allowance for the registration statement to become effective, enabling the ETFs to commence trading on Tuesday.

The introduction of these ETFs could pave the way for more cryptocurrency-related financial products.

Bloomberg ETF analyst Eric Balchunas noted that the launch of Ethereum ETFs might open the door for other altcoin ETFs, such as Solana’s native token SOL.

“Keep in mind after launch there are flows and then additional ETH products I’m sure, then Solana, and then… it’s probably never going to end.   The dam has broken,” Balchunas stated.

While optimism surrounds these new financial products, some analysts speculate that these spot ETFs could propel ETH to unprecedented price levels, with predictions reaching up to $100,000 or even higher.

Where & How to Buy Ethereum (ETH)?

BTCC offers Ethereum (ETH) Perpetual Futures with leverage up to 500×, you can trade Ethereum (ETH) Perpetual Futures Contract on BTCC at the most competitive price and highest security.

The following sets forth the guidance for trading Ethereum (ETH) Perpetual Futures Contract on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: on the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the Ethereum (ETH) trading pair.

You can also click the button below to directly enter the Ethereum (ETH) trading page⇓

Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.

• Market Order: users place orders at the best price in the current market to achieve fast trading.
• Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
• SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the Ethereum (ETH) futures contract order is completed.

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