A Grayscale executive said the products will provide traditional investors with exposure to an asset that has the potential to transform the entire financial system.
Digital asset manager Grayscale has confirmed its two spot Ether exchange-traded funds (ETFs) have officially started trading on the New York Stock Exchange, marking a “milestone” moment for its investors and the wider ETF market.
The launch comes one day after the United States Securities and Exchange Commission (SEC) signed off on the final approval for spot Ether (ETH) ETFs, allowing several issuers to launch their products for trading. In a July 22 X post, Bloomberg analyst James Seyffart said that the Grayscale Ethereum Trust (ETHE) had not yet received official effective documents from the SEC, but he expected it to come on the morning of trading commencing.
ETHE is currently the world’s largest Ether-based exchange-traded product, with $9.19 billion worth of ETH in its holdings. ETHE will charge investors a 2.5% management fee.
