Ethereum ETFs have been approved - Ether price falls slightly

Ethereum Spot ETFs have finally been authorized for trading. A new chapter now begins for the second-largest cryptocurrency.

It happened: the Ethereum Spot ETFs are according to media reports officially authorized for trade in the US.

For weeks, the crypto world waited for this moment, after the US stock market watchdog SEC approved an initial batch of applications back in May. These were initially the so-called 19b-4 applications. With the S-1 applications now also approved, U.S. exchanges can start trading as early as today.

A total of eight ETFs have been approved. The providers are Grayscale, Bitwise, Blackrock, VanEck, ARK 21Shares, Invesco Galaxy, Fidelity and Franklin Templeton.

Trading is limited to the US. Index funds are not allowed in Europe. The ETFs allow investors to profit from Ethereum's price movement without having to buy the cryptocurrency directly.

Such index funds are of particular interest to institutional investors, for whom direct crypto investments are prohibited. One expects similar effects to Bitcoin due to the approval. After the ETF approvals early this year, the BTC price climbed to a new record high.

So far, however, the Ether price seems unimpressed, falling 1.27 percent to $3450 compared to the previous day's level. What the expected price trend will be, read here.