Spot ETH ETFs set to hit US exchanges Tuesday, July 23

The ETH funds received the final SEC nod after issuers worked with the agency on disclosure documents in recent weeks

article-image

Trichaiwat/Shutterstock and Adobe modified by Blockworks

share

The Securities and Exchange Commission is set to allow the first US spot ether ETFs to go live on Tuesday, July 23. 

The SEC officially signed off on the ETFs late Monday, allowing the funds to launch Tuesday. 

Loading Tweet..

Issuers had been working with the agency to finalize their disclosure documents in recent weeks. Back in May, the SEC approved the 19b-4 proposals filed by the exchanges on which the funds would be listed.

Read more: Digesting the ETH ETF decision: What it means and what comes next

A number of industry watchers had expected the SEC to reject the spot ether proposals leading up to the May decision. That changed a few days prior when conversations ramped up as part of what some guessed may have reflected a politically motivated about-face.

Amended filings around that time clarified that the funds would not stake their ETH holdings

While the 19b-4 approvals were a landmark ruling, issuers had to iron out disclosure details with a separate unit of the regulator — the SEC’s Division of Corporation Finance — before the funds could be cleared to trade.  

Fund groups, by July 17, had submitted the latest round of registration statements, which included planned fees for the ETH ETFs. People close to the process had indicated they expected issuers to be able to launch the proposed funds on July 23. 

Read more: Does the ETH ETF ‘fee war’ even matter to investors?

Though spot ether ETFs exist elsewhere in the world, the debut of these funds represents a milestone for the US. They are set to launch a little more than six months after the first US spot bitcoin ETFs began trading in January. 

The BTC funds have tallied about $17 billion of net inflows since then. Industry watchers expect demand for the ETH funds to be less, with some inflow estimates ranging from 15% to 30% of the BTC flows.    

Cypherpunk Holdings CEO Leah Wald told Blockworks in a recent interview that the summer is a tough time to launch an ETF.

“I think [reception] can’t be just determined in the first few months of trading,” she said of the ETH funds. “I think it needs to be determined after a year.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

The reserve will collect protocol revenues to back W token, alongside new yield and unlock schedule

by Blockworks /
article-image

Layer 2 network Taiko integrates Chainlink Data Streams to deliver reliable onchain market data for DeFi and institutions

by Blockworks /
article-image

The license will allow Bullish to operate in New York under strict digital asset rules

by Blockworks /
article-image

The derivatives giant expands crypto offerings with new Solana and XRP futures options, pending regulatory review

by Blockworks /
article-image

Nasdaq-listed firm to fund Solana token purchases and expand its blockchain-focused treasury strategy

by Blockworks /
article-image

The partnership deepens liquidity and lowers conversion costs as demand for regulated stablecoins grows worldwide

by Blockworks /