Nine spot ether ETFs launched on Tuesday, enabling investors to have direct exposure to the cryptocurrency.
The launch of these new cryptocurrency funds marks a significant milestone for the ETF industry. The spot ether ETFs provide U.S. investors access to ethereum in the familiar ETF wrapper for the first time.
“Spot ether ETFs will allow easier access for investors to invest in the second-largest cryptocurrency by market cap and expand their portfolio beyond bitcoin,” said Roxanna Islam, head of sector & industry research at VettaFi.
Ethereum is a digital asset created and transmitted through the operations of the peer-to-peer ethereum Network, according to Grayscale. The ethereum network is a decentralized network that allows people to exchange ether, which is then recorded on a public transaction ledger known as a blockchain.
See more: Crypto ETFs: Ether Not an Either/Or Story With Bitcoin
Introducing the 9 New Spot Ether ETFs
Grayscale launched two funds on Tuesday, introducing the Grayscale Ethereum Trust (ETHE) the Grayscale Ethereum Mini Trust (ETH).
ETHE launched on Tuesday via a conversion, and notably already holds over 2% of the world’s total ether supply. ETHE carries the heftiest expense ratio of all the new funds, charging 250 basis points. Conversely, Grayscale’s other spot ether ETF, ETH, charges just 15 basis points, making it the cheapest offering currently available to investors.
See more: Grayscale Aims to Lead Spot Ether Field With Low-Cost ETF
Franklin Templeton entered the arena with the Franklin Ethereum ETF (EZET). The fund charges 19 basis points.
Crypto specialist Bitwise launched the Bitwise Ethereum ETF (ETHW). Meanwhile, VanEck introduced the VanEck Ethereum ETF (ETHV). Both funds charge 20 basis points.
The 21Shares Core Ethereum ETF (CETH) carries a 21 basis point expense ratio.
The Fidelity Ethereum ETF (FETH), the Invesco Galaxy Ethereum ETF (QETH), and the iShares Ethereum Trust (ETHA) each charge 25 basis points.
It’s important to note most of the funds are waiving their management fees for a limited time (often a few months to one year), for the first specified amount of assets.
For more information, please visit VettaFi.com | ETF Trends.
