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

Unlocked by Template (10).png

Research

Innovations on Aptos’ technical design through Raptr, Shardines, and Zaptos approach near-optimal latency and throughput by unlocking 100% utilization of network resources, with the capacity to settle 260k transactions per second with latencies less than 800ms. The original Move language was revamped with the launch of Move 2, supporting more expressivity in smart contract logic and a scalable ability to interact with high volume datasets. The ecosystem has benefitted from strong asset inflows, now hosting over $1.3B in stablecoins, $450M in bridged BTC, and $530M in RWAs. Activity in the Aptos ecosystem has grown notably over the past year, with monthly application revenue reaching ~$835k and monthly DEX volumes growing to over $5B, both at new all time highs.

article-image

The House on Thursday passed the CLARITY Act, a landmark cryptocurrency market structure bill

article-image

Interchain Labs will focus on sovereign L1s and institutional demand, abandoning plans for smart contracts on the Cosmos Hub

article-image

Also, only three tokens have outperformed bitcoin so far this year: XMR, HYPE and SKY

article-image

The fund group has submitted proposals in recent months for other funds that would hold litecoin, solana, XRP, HBAR, Sui and others

article-image

Momentum’s back — BTC leads, risk assets follow

article-image

Ondo Finance’s acquisition of blockchain development company Strangelove follows its buy of Oasis Pro