On July 23, Finance Associated Press (Editor: Liu Rui) reported that after over six months since the release of Bitcoin ETF, the eagerly anticipated Ethereum Spot ETF will finally be listed in the United States.

According to reports, the American Securities and Exchange Commission (SEC) has notified eight companies that have applied to launch the first batch of ETFs tied to Ethereum prices that their products will be traded starting from Tuesday. This means that the US regulatory body has finally approved Ethereum spot ETF, allowing Americans to trade Ethereum through ETF tools. Presently, the Ethereum ETF products of these eight companies will begin trading in three different exchanges on Tuesday morning of the US Eastern Time. The Chicago Options Exchange, Nasdaq, and New York Stock Exchange have all confirmed that they are ready to launch Ethereum ETF transactions.

Ethereum ETF finally approved.

It is reported that the first batch of ETF applicants directly investing in Ethereum includes: 21Shares, Bitwise Asset Management Company, BlackRock, Franklin Templeton, Fidelity Investments, VanEck, and Invesco.

At present, the Ethereum ETF products of these eight companies will begin trading in three different exchanges on Tuesday morning of the US Eastern Time. The Chicago Options Exchange, Nasdaq, and New York Stock Exchange have all confirmed that they are ready to launch Ethereum ETF transactions.

Over the past few years, the US Securities and Exchange Commission has been considering and reviewing whether to approve Ethereum ETF. However, in January this year, the regulatory body approved the Bitcoin ETF, which attracted billions of dollars of capital inflows to the Bitcoin market. This event has paved the way for the approval of the Ethereum ETF.

Only a few weeks ago, the approval of the ETF seemed uncertain. But in late May, after a long silence, officials of the US SEC suddenly began to communicate with potential ETF issuers. After that, on May 23, the regulatory body approved a key document, which opened the way for the full approval of Ethereum ETF.

"We have now fully entered the era of cryptocurrency ETF," said Matt Hougan, chief investment officer of Bitwise. "Investors can now enter more than 70% of the liquid cryptocurrency asset market through low-cost ETFs."

Kyle DaCruz, head of digital assets at VanEck, said, "As the first company that applied for Ethereum ETF as early as 2021, we have always believed that investors should be able to access Ethereum through a tool they find convenient and familiar."

A large amount of capital will flow in.

The approval of Ethereum ETF will obviously bring in a large amount of new capital inflows to the Ethereum market.

In January this year, the spot Bitcoin ETF was approved and started trading. In terms of the speed of capital inflow, it was the most successful ETF product in history: it attracted tens of billions of dollars of capital inflows in just two months and pushed the price of this largest cryptocurrency to a new historical high.

Some analysts predict that although the fund capital inflows of the spot Ethereum ETF may not be as high as that of the Bitcoin ETF, it may still push the price of Ethereum spot up to $6500. As of the time of writing, the trading price of Ethereum spot is around $3443, which means that the Ethereum ETF is expected to push the spot price close to doubling.

Steno Research predicts that the newly launched ETF may have a capital inflow of 15 billion to 20 billion US dollars in the first year, which is roughly the same as the scale of capital inflows within the first 7 months after the spot Bitcoin was launched.

Editor/Somer