A historic moment for the cryptocurrency market will come on July 23, 2024, when nine Ethereum (ETH)-based exchange-traded funds will be launched in the United States. For the first time, shares of publicly traded Ethereum-ETFs will appear on leading US exchanges such as the CBOE, Nasdaq and NYSE Arca.

Launch dates and venues

The Chicago Board Options Exchange (CBOE) confirmed July 23 as the launch date for five ETFs: 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF and Franklin Ethereum ETF. The remaining four funds are expected to begin trading on the Nasdaq and NYSE Arca exchanges that day.

Where to buy Ethereum-ETF shares

Ethereum-ETF shares will be available for purchase on major brokerage platforms such as Fidelity, E*TRADE, Robinhood, Charles Schwab and TD Ameritrade. All nine funds have already received regulatory approval to trade on at least one major U.S. exchange.

Choosing the best ETF

The mechanics of all funds are virtually identical: they are managed by reputable companies, hold the underlying assets with a qualified custodian and rely on professional market makers. The main criterion of choice will be the management fee, which most funds charge from 0.15% to 0.25%. The exception is Grayscale Ethereum Trust (ETHE) with a commission of 2.5%.

Leaders in terms of low commissions

Grayscale Ethereum Mini Trust (ETH), with a 0.15% fee that is waived for the first six months, and Franklin Ethereum ETF (EZET), with a 0.19% fee that is zeroed out until January 2025, are the most attractive.

Ethereum-ETF staking issue

At this time, Ethereum-ETFs will not offer steaking. The Securities and Exchange Commission (SEC) has denied issuers' requests to include steaking in ETFs due to liquidity issues. Issuers are still looking for a solution, but steaking in ETFs is unlikely in the coming months.

Conclusion

The launch of Ethereum-based exchange traded funds is a significant development for digital assets. For the first time, millions of U.S. investors will be able to invest in ETH through familiar financial products under regulatory oversight. This is an important step in integrating cryptocurrency into the traditional financial system and increasing the accessibility of Ethereum.