When the article was prepared, exchanges completed the listing of ETH ETFs, and the long-awaited event occurred. For a week, everyone was writing that the listing would happen with the US market opening. Although the SEC’s sudden 180-degree turn brought the ETF approval quickly, the listing procedures took time. Now, July 23 is recorded as “listing day,” one of the most important dates of the year.
Ethereum (ETH) ETF
A total of 9 ETFs started trading on exchanges. The ETF with the lowest transaction fee is named “ETH” (Grayscale Mini ETH ETF). BlackRock and others set transaction fees around 0.25%. The ETHE, the Ethereum version of GBTC initiated by Grayscale, has the highest transaction fee at 2.5%. This shows that investors can convert their gains from negative premiums into cash to avoid high transaction fees.
The volume generated until the US exchanges close is extremely important. If we see strong volume on the first day and no massive exits on the ETHE front, the daily candle close for cryptocurrencies could be at higher levels.
We will continue to share developments on volume or other important matters regularly from here.
