Grayscale's Ether ETFs Go Live on NYSE with Zero Management Fees

IconCryptoNewsTerminal Staff23 Jul, 2024

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Grayscale's Ether ETFs Go Live on NYSE with Zero Management Fees

Grayscale Investments, the world's largest digital currency asset manager, has announced the launch of two Ether-based spot ETFs (exchange-traded funds) on the New York Stock Exchange (NYSE) Arca. The Grayscale Ethereum Spot ETF ($ETHE) and the Grayscale Ethereum Classic Spot ETF ($ETCG) began trading today, providing investors with a convenient and regulated way to gain exposure to the respective cryptocurrencies. In a tweet, Grayscale stated that there will be 0% management fees for the first six months after inception. This move is likely to entice investors looking to capitalize on the growth potential of Ether and Ethereum Classic without the hassle of directly purchasing and storing the cryptocurrencies. The launch of these ETFs marks a significant milestone in the cryptocurrency industry as it provides a new level of accessibility and legitimacy to Ether and Ethereum Classic. These ETFs are expected to attract both retail and institutional investors, further driving the adoption and growth of the broader cryptocurrency market.

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