Will These 8 Ethereum ETFs Be Approved on July 2?
Earlier this month, Bloomberg ETF analyst Eric Balchunas made a bold prediction on Twitter, stating that he believed the agency would approve Ethereum ETFs for trading on July 2. Balchunas, who had successfully predicted the approval of Bitcoin ETFs earlier in the year, has gained credibility with his accurate forecasts.
Ethereum, a cryptocurrency with unique features that set it apart from Bitcoin, operates on a blockchain that not only supports Ether coins but also hosts decentralized apps and non-fungible tokens. Additionally, Ethereum has transitioned to a more energy-efficient proof-of-stake system for creating new coins, in contrast to the proof-of-work process used in Bitcoin mining.
While there are currently Ethereum strategy ETFs available on the market that indirectly track the price of Ether through futures contracts, these may not be as accurate in tracking the cryptocurrency’s price as a spot Ethereum ETF would be. Furthermore, these ETFs may come with higher fees. If spot Ethereum ETFs are indeed approved on July 2, they would be the first of their kind.
Grayscale Ethereum Strategy ETF (GEST)
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Reality Shares Ethereum Strategy ETF (RETH)
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21Shares Ethereum Strategy ETF (CETH)
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Fidelity Ethereum Strategy ETF (FETH)
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Invesco Galaxy Ethereum Strategy ETF (QETH)
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iShares Ethereum Strategy ETF (ETHA)
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Source: SEC EDGAR system. Data is current as of June 24, 2024 and for informational purposes only.
These Ethereum strategy ETFs provide investors with exposure to the price movements of Ethereum through futures contracts. Each ETF has its own fee structure and investment strategy, so it’s important to research and compare them before making any investment decisions.
The fee for Valkyrie Bitcoin and Ether Strategy ETF (BTF) has been reduced to 0.85% until October 2, 2025. This ETF is invested in Bitcoin and Ether futures.
Similarly, the fee for ProShares Ether Strategy ETF (EETH) has been reduced to 0.95% until October 31, 2024. This ETF is invested in Ether futures.
ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) also has a fee reduction to 0.95% until October 31, 2024. This ETF is invested in Bitcoin and Ether futures.
The approval of Ethereum ETFs could potentially add momentum to the price of Ethereum, which has already seen a 44% increase this year. These ETFs would provide new investment opportunities for 401(k) and IRA investors who currently do not have access to cryptocurrencies in their retirement accounts.
While the approval of Bitcoin ETFs led to a price increase of over 50% in the three months following, it is uncertain if this was solely due to ETF-related buying. Other factors, such as the hype surrounding the Bitcoin halving in April 2024, may have also influenced the price movement.
Investing in Ethereum ETFs may offer advantages for investors who cannot directly purchase Ethereum, but it is important to note that ETF investors would not receive staking rewards that come with owning the cryptocurrency itself. If staking rewards are important to you, investing in Ethereum directly would be necessary. The Importance of Regular Exercise
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