Similar to spot bitcoin etf, spot ethereum (eth) etf enables investors to have access to the digital asset market without having to be exposed to the volatility, security, and technical challenges.
On January 10, 2024, the SEC approved 11 new spot bitcoin ETFs. Since then until now, the price of bitcoin has increased, tremendously reaching a new all-time-high of $73,738 on March 14, 2024.
Currently, there have been a total of seven spot eth ETF applications so far since 2024. These applications include:
- Ark Invest/ 21Shares
- VanEck
- Grayscale
- BlackRock
- Hashdex
- Invesco/Galaxy
- Fidelity
What is an Ethereum ETF?
An Ethereum exchange-traded fund (ETF) is a financial instrument designed to offer exposure to onchain ETH, and make it accessible to traditional market investors without exposure to the volatility, security and technical challenges inherent with crypto assets. Ethereum is the native asset of the Ethereum blockchain network.
Read Also: March Madness: Bitcoin, Ethereum, and Solana Clash in the Crypto Arena
Today, there is no spot one type of Ethereum ETF available in the US market. But there is a spot ethereum ETF in Hong Kong from Harvest, ChinaAMC, and Bosera/Hashkey. But in the US, the SEC has not granted approval to a spot ethereum ETF.
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