NYSE Approves Bitwise and Grayscale ETH ETFs, Trading Expected to Begin

Bollywood Fever: Following the Chicago Board Options Exchange’s (Cboe) preparation for five new spot ethereum exchange-traded funds (ETFs) last week, the New York Stock Exchange (NYSE) has confirmed its approval to list the Bitwise and Grayscale ETH ETF. Bloomberg ETF analyst James Seyffart mentioned that he and his colleague Eric Balchunas anticipate the spot ether funds will start trading on Tuesday.

On July 22, the NYSE revealed its clearance to list the Bitwise and Grayscale ETH exchange-traded funds. The NYSE confirmed its approval for the listing and registration of the common shares of these funds. Analysts had previously forecasted a Tuesday trading date, and Cboe’s recent filings also indicated a July 23 launch.

Ethereum's long-awaited Merge is expected to arrive next month

Bloomberg ETF analyst James Seyffart mentioned that he and Eric Balchunas expect the funds to commence trading on Tuesday. Balchunas shared Seyffart’s post, which stated, “We expect them to begin trading tomorrow. That means we should see a bunch of filings on SEC site today that say the ETFs’ prospectuses have gone ‘effective.’ Likely after or around market close.” Nate Geraci, founder of The ETF Institute, concurred with Seyffart.

“Welcome to spot eth ETF launch week,” Geraci wrote on Monday. Meanwhile, the price of ether has dropped 1.4% in the past 24 hours, though it has gained 2.2% over the week. Bitcoin has been outperforming ethereum this week. Despite bitcoin (BTC) being 8.9% below its all-time high set four months ago, ETH is 29% lower than its peak price recorded on Nov. 10, 2021, over two years ago. Some believe these spot ether funds will enhance the price and demand for ether in the long run.


Also Read other news articles, Bank of Canada Expected to Cut Interest Rates Amid Easing Inflation

Nigeria’s Dangote Refinery to Hit 550,000 bpd Production Amid Crude Supply Challenges

Barclays Seeks to Halve Shareholders’ $720 Million Lawsuit Over Dark Pool Trading Scandal

Nicholas Edwards
Nicholas Edwards

Nicholas Edwards is a passionate writer with a keen interest in sports and business news. With a knack for delivering insightful and engaging content, Nicholas keeps his finger on the pulse of the latest developments in these dynamic fields. His enthusiasm for both sports and business shines through in his writing, making complex topics accessible to a wide audience. Whether it's dissecting the latest game-changing play or analyzing market trends, Nicholas brings a fresh perspective and a wealth of knowledge to his articles. Email @ admin@bollywoodfever.co.in

Articles: 710

Leave a Reply

Your email address will not be published. Required fields are marked *