Ethereum

The New York Stock Exchange Arca (NYSE Arca) has officially confirmed its approval for the listing and trading of spot Ethereum exchange-traded funds (ETFs) from Grayscale and Bitwise. 
<h2 id="strong-grayscale-bitwise-ethereum-etf-gets-sec-nod-strong">Grayscale &amp; Bitwise Ethereum ETF Gets SEC Nod</h2> 
Documents filed with the U.S. Securities and Exchange Commission (SEC) reveal that NYSE Arca has approved the registration and listing of spot Ethereum ETFs from both <a href="https://coingape.com/grayscale-ethereum-mini-trust-key-spinoff-concerns-addressed/">Grayscale</a> and Bitwise under the Exchange Act of 1934. 
This certification is crucial as it signifies regulatory acceptance and a formal process of introducing these financial products to the market. The ETFs in question aim to provide investors with a regulated means of gaining exposure to Ethereum without the need for direct cryptocurrency ownership. 
The listing process involved a comprehensive two-step procedure, beginning with the SEC’s approval of 19b-4 forms in May. This initial approval was essential for NYSE Arca to proceed with the listing approvals. The final step, expected to be finalized by Monday, involves the SEC allowing the registration statements to become effective, thereby enabling the ETFs to commence trading tomorrow. 
<h2 id="additional-etfs-set-to-launch">Additional ETFs Set to Launch</h2> 
Parallel to NYSE Arca’s developments, the Cboe Exchange has also confirmed that its proposed <a href="https://coingape.com/tag/spot-ethereum-etf/#:~:text=21Shares%20filed%20an%20amended%20S,The%20filing%20revealed%20the%E2%80%A6&amp;text=One%20of%20the%20major%20controversial,the%20issue%20of%20ETH%20staking.">spot Ethereum ETFs</a> are slated to begin trading on July 23. This includes products from prominent firms such as Fidelity Investments, Franklin Templeton, Invesco, 21Shares, and VanEck. 
The update from Cboe has cemented the anticipated timeline, with market observers and analysts expressing optimism about the SEC’s final approval. 
In preparation for the anticipated trading launch, firms have been diligently amending their S-1 forms and updating management fees. <a href="https://coingape.com/bitwise-ceo-discloses-huge-bitcoin-etf-buying-large-bank-us/">Bitwise</a> announced a competitive 0.20% fee with an initial discount for the first $500 million in assets, contrasting with Grayscale’s higher fee of 2.5%. The latter’s decision has drawn criticism from industry experts like ETF Store President Nate Geraci, who pointed out that such a high fee could be a repeat of past strategic missteps by Grayscale. 
Read Also: <a href="https://coingape.com/markets/bch-price-prediction-bitcoin-cash-eyes-28-explosive-move/">BCH Price Prediction: Bitcoin Cash Eyes 28% Explosive Move</a> 
The post <a href="https://coingape.com/grayscale-bitwise-ethereum-etf-gets-sec-nod-for-nyse-trading/">Breaking: Grayscale &amp; Bitwise Ethereum ETF Gets SEC Nod For NYSE Trading</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: Grayscale & Bitwise Ethereum ETF Gets SEC Nod For NYSE Trading

Table of Contents

Coingape News Media

Άλλα άρθρα που δημοσιεύτηκαν στις 22 Ιουλ 2024

Poodlana Hits $2 Million As Biden Dropout Excites Bulls

MOONHOP Hits Nearly $1M in Presale, What’s Happening with XRP Pricing and BlockDAG Presale?

WazirX Hacker Transfers $57 Million in Stolen Funds to New Crypto Wallets

Messari’s pro-Trump CEO Ryan Selkis steps down after controversial tweets — here’s what happened

Bitcoin Achieves New Heights this Week

Stocks to Watch Today: Nvidia, Tesla, and CrowdStrike

Join our free newsletter for daily crypto updates!