The U.S. Securities and Exchange Commission has approved multiple institutions to launch Spot Ethereum ETF on major U.S. exchanges on July 23, expecting to attract billions of dollars into the ecosystem. Approved entities include BlackRock, Fidelity, Grayscale, etc., with their ETF products set to be listed on exchanges like Nasdaq and the New York Stock Exchange. Additionally, some institutions have pledged to waive the basic fees for the ETF until certain conditions are met. The launch of Spot Ethereum ETF is particularly anticipated due to market dynamics after U.S. President Joe Biden’s withdrawal from the 2024 election. Industry analysts predict that the new ETFs may attract 10% to 20% of the fund flows since the launch of Spot Bitcoin ETF.
