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:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

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

Bluefin possibly stands at an inflection point. The token is near an all-time low yet the protocol’s spot volume market share and derivatives exchange usage have been increasing month over month since its November launch. Given its current market position and the upcoming upgrades (for both Bluefin and SUI), there may be upside potential before the increased supply growth in December. However, strong opposition from existing competitors (like Cetus and Suilend), as well as new entrants (like Aftermath), pose key challenges to Bluefin’s medium-term success.

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens