ETFs
Ethereum ETFs about to be approved? — Here are the candidates awaiting confirmation ⋆ ZyCrypto
All eyes are on the United States Securities and Exchange Commission (SEC) for approving Ethereum exchange-traded funds (ETFs). Following the groundbreaking approval of spot Bitcoin ETFs Earlier this year, anticipation for Ethereum ETFs was palpable, with major investment firms awaiting confirmation.
black rock
Leading the pack is BlackRock, the world’s largest investment management firm, which has submitted a Form S-1 for its iShares Ethereum Trust. While CEO Larry Fink believes in Ethereum’s potential, BlackRock Entry into the Ethereum ETF Market shows the huge institutional interest in the second largest cryptocurrency.
Shades of grey
Meanwhile, Grayscale, a major crypto asset manager, is awaiting the SEC’s response to its proposal to convert its Grayscale Ethereum Trust into a Spot Ethereum ETF. After leading the way for Bitcoin ETFs in the United States, Grayscale will directly compete with BlackRock for the best ETF provider.
Arche 21Shares
ARK Invest, in collaboration with crypto ETF issuer 21Shares, has also entered the fray by filing for an Ethereum ETF with Coinbase as trustee. Cathie Wood’s ARK Invest is known for its innovative investment strategies, and its entry into Ethereum ETFs reflects the growing demand for crypto investments.
Fidelity, VanEck and Hashdex
Fidelity, another major player in the financial industry, has expressed interest in Ethereum ETFs by filing a product application with the SEC through Cboe.
The same goes for VanEck. An established asset manager, he was the first to send out his Ethereum ETF proposal, but later withdrew it in 2021.
Brazilian asset manager Hashdex, in partnership with Nasdaq, has filed for a Hashdex Nasdaq Ethereum ETF, leveraging its success with crypto ETFs in Brazil.
Franklin Templeton, Invesco Galaxy and Bitwise
Franklin Templeton’s proposal for a Franklin Ethereum Trust includes staking as part of its investment strategy. As staking gains popularity in the crypto space, Franklin Templeton seeks to present a unique value proposition and provide more opportunities for its investors.
Invesco, Galaxy Digital and Bitwise have also submitted proposals for Ethereum ETFs, adding to the growing list of applicants awaiting SEC approval.
While the SEC’s decisions on these proposals are eagerly awaited, industry experts anticipate a potential launch of Ethereum ETFs by the end of the year. If approved, Ethereum ETFs could open new avenues for traditional investors to participate in the crypto market and have a huge impact on the market, potentially propelling it to new heights.