Ethereum’s Price Surge: A Week of Anticipation
Ethereum’s price experienced a notable increase of 11% within a week, fueled by the anticipation of spot Ethereum ETFs. The rally comes ahead of the SEC’s final approval, driving significant market interest.
Ethereum’s Price Movement:
Ethereum price has climbed past $3,500, marking an 11% increase over the past week, according to Trading View. This surge follows CBOE’s announcement that five spot Ethereum exchange-traded funds (ETFs) will commence trading on July 23.
ETF Issuers and Fee Structures:
Several Ethereum ETF issuers, including Fidelity Ethereum Fund (FETH), Franklin Templeton Ethereum ETF (EZET), Invesco Galaxy Ethereum ETF (QETH), Van Eck Ethereum ETF (ETHV), and 21Shares Core Ethereum ETF (CETH), have revealed their fee structures. The fees range from 0.19% to 0.25%, with Franklin Templeton offering the lowest post-waiver fee at 0.19%. Grayscale’s management fee, however, stands at a higher 2.5%.
Upcoming Launches and SEC Approval:
The final S-1 forms have been submitted by ETF issuers, suggesting that several spot Ethereum ETFs might debut on July 23, exactly two months after the SEC’s initial approval. This launch includes the CBOE listings and others like BlackRock’s iShares Ethereum Trust on Nasdaq and Grayscale Ethereum Trust on NYSE, though official announcements from the exchanges are still pending.
Market Anticipation and Historical Context:
Ethereum kicked off the week with a 5% rally to over $3,300, as the market eagerly awaits the SEC’s final trading approval for spot Ethereum funds. Currently trading at $3,500, Ethereum remains down about 28% from its all-time high of $4,800.
Potential Market Impact:
The expected SEC approval is poised to positively influence the Ethereum market and the broader crypto industry. It could attract significant institutional and retail investments into Ethereum, potentially replicating the success seen with spot Bitcoin ETFs. Bitcoin, for instance, surged over 40% following the launch of US spot Bitcoin funds, reaching a record high of $73,000 in mid-March, despite an initial correction.
