Ethereum ETFs About to Be Approved? — Here are the Candidates Waiting for Confirmation

All eyes are on the United States Securities and Exchange Commission (SEC) for approving the Ethereum exchange-traded funds (ETFs). Following the groundbreaking approval of spot Bitcoin ETFs earlier this year, the anticipation for Ethereum ETFs is palpable, with major investment firms waiting for confirmation.

BlackRock

Leading the charge is BlackRock, the world’s largest investment management company, which submitted an S-1 form for its iShares Ethereum Trust. With CEO Larry Fink believing in Ethereum’s potential, BlackRock’s entry into the Ethereum ETF market shows the huge institutional interest in the second-largest cryptocurrency.

Grayscale

Meanwhile, Grayscale, a prominent crypto asset manager, awaits the SEC’s response to its proposal to convert its Grayscale Ethereum Trust into a spot Ethereum ETF. Having paved the way for Bitcoin ETFs in the U.S., Grayscale will directly compete with BlackRock for the best ETF provider.

Ark 21Shares

ARK Invest, in collaboration with crypto ETF issuer 21Shares, has also entered the fray, filing for an Ethereum ETF with Coinbase as the trustee. Cathie Wood’s ARK Invest is known for its innovative investment strategies, and its entry into Ethereum ETFs reflects the increasing demand for crypto investments.

Fidelity, VanEck, and Hashdex

Fidelity, another major player in the financial industry, signaled its interest in Ethereum ETFs by filing for a product with the SEC through Cboe.

The same goes for VanEck. An established asset manager, it was the first to send its proposal for an Ethereum ETF, but it later withdrew it in 2021.

Brazilian asset manager Hashdex, in partnership with Nasdaq, applied for a Hashdex Nasdaq Ethereum ETF, leveraging its success with crypto ETFs in Brazil.

Franklin Templeton, Invesco Galaxy, and Bitwise

Franklin Templeton’s proposal for a Franklin Ethereum Trust includes staking as part of its investment strategy. With staking gaining popularity in the crypto space, Franklin Templeton is looking to present a unique value proposition and offer more opportunities to its investors.

Invesco, Galaxy Digital, and Bitwise have also submitted proposals for Ethereum ETFs, adding to the growing list of contenders awaiting SEC approval.

While the SEC’s decisions on these proposals are eagerly awaited, industry experts anticipate a potential launch of Ethereum ETFs by the end of the year. If approved, Ethereum ETFs could open up new avenues for mainstream investors to participate in the crypto market and have a huge impact on the market, potentially sending it to new highs.