U.S. spot ether ETFs make market debut in another win for crypto industry

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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.

 

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US spot ether ETFs set to make market debut in another win for crypto industryThe first U.S. exchange-traded funds (ETFs) tied to the price of ether, the world's second-largest cryptocurrency after bitcoin, are due to begin trading on ...
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