The first U.S. exchange-traded funds tied to the price of ether, the world’s second-largest cryptocurrency after bitcoin, began trading on Tuesday, in another watershed event for the crypto industry’s push to go mainstream.
The agency was forced to green-light the ETFs after losing a court challenge brought by digital asset manager Grayscale Investments, although it warned when approving them that the products were still highly risky. The ether ETF fees range from 0.19% for Franklin Templeton’s ether ETF to a high of 2.5% for Grayscale’s ethereum trust, which it is converting into an ETF, according to their public offering documents. The rest cluster around 0.25%.
Issuers began filing for the ether ETFs in September. Executives initially had low hopes that the SEC would approve the products after discouraging meetings with officials.
Belgique Dernières Nouvelles, Belgique Actualités
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