Krutika Adani
The SEC finally approved the first two Ethereum ETFs after a final round of corrections.
The two approved ETFs were Grayscale Mini Ethereum Trust and Proshares Ethereum ETF.
Due to its high fee of 2.5%, Grayscale Ethereum ETF is again expected to lose $2 billion to $5 billion in holdings.
ETFs were long expected to raise Ethereum’s price above $5000. At press time, the top altcoin traded at $3418.
Experts expect Ethereum ETFs to have a smaller debut than Bitcoin ETFs, but they are expected to receive $5 billion in inflows in the next six months.