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Spot Ethereum ETFs Are Officially Coming To The USA

July 15, 2024
x min read
Spot Ethereum ETFs Are Officially Coming To The USA

The United States of America is about to get access to spot Ethereum ETFs for the very first time.

What’s happening:

  • The United States Securities and Exchange Commission has approved the first spot Ethereum ETFs to list on major stock exchanges in the United States

Why it matters:

By the numbers:

  • Ethereum is the second largest digital asset in the world with a market capitalization of approximately $418B USD

Going deeper:

  • The initial spot Ethereum ETFs that have been approved to begin officially trading next week come from asset managers including BlackRock, VanEck and Franklin Templeton
  • The rise of traditional markets and digital assets has been notable recently, with Galaxy Digital (TSX: GLXY) recently announcing a partnership with State Street to launch new crypto ETFs and the launch of the world’s first yield generating Bitcoin Exchange Traded Product on the Nordic Growth Market

Market reaction:

  • The price of Ethereum is up approximately +7% following the announcement

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