US SEC Approves First Spot Ether ETFs to Start Trading Tuesday

The US SEC approves the first spot Ether ETFs, set to begin trading on July 23, 2024, marking a significant milestone for cryptocurrency investment products.

Points

• The SEC has approved the first spot Ether ETFs for trading.
• Products from BlackRock, VanEck, and others will start trading on July 23.
• The ETFs will be listed on Cboe, Nasdaq, and NYSE.
• This approval is expected to boost institutional interest in Ether.

In a landmark decision for the cryptocurrency market, the U.S. Securities and Exchange Commission （SEC） has approved the first spot Ether （ETH） exchange-traded funds （ETFs）. These products, managed by firms such as BlackRock and VanEck, are set to begin trading on July 23, 2024, on major exchanges including Cboe, Nasdaq, and NYSE.

Forexlive

The SEC’s approval is a significant step forward for cryptocurrency investment products, paving the way for greater institutional participation in the market. The spot Ether ETFs will offer investors direct exposure to Ether, providing a new avenue for investment in one of the largest and most widely used cryptocurrencies.

Bloomberg ETF analyst James Seyffart noted that this approval is expected to lead to additional filings and the launch of more cryptocurrency ETFs, including those for other altcoins like Solana （SOL）. The “dam has broken,” he remarked, indicating that this could be the beginning of a broader acceptance and integration of cryptocurrency investment products in traditional financial markets.

The introduction of these ETFs comes at a time when institutional demand for Ether is rising. A report from Kaiko highlighted a decrease in Ether’s market depth, suggesting reduced liquidity that could lead to increased price volatility as demand grows. At the time of writing, Ether is trading at $3,457, down 1.4% over the past 24 hours.

解説

• The SEC’s approval of the first spot Ether ETFs represents a significant milestone in the integration of cryptocurrencies into traditional financial markets.
• By offering direct exposure to Ether, these ETFs are expected to attract substantial institutional interest and investment.
• The approval is likely to lead to more cryptocurrency ETFs, expanding investment options for both retail and institutional investors.
• With rising institutional demand and decreasing market depth, Ether may experience increased price volatility, highlighting the dynamic nature of the cryptocurrency market.