Ethereum Surges Past $3,500 as Ethereum Spot ETF Advance Nears Target

The price of ethereum (eth) has surpassed $3,500, marking an 11% increase over the past week, according to TradingView. data sample. Rally follows CBOE advertisement that five ethereum exchange-traded funds (ETFs) will begin trading on the exchange on July 23.

Now that ETF issuers are submitting their final S-1 forms, Bloomberg ETF analyst Eric Balchunas suggested that several spot ethereum ETFs could debut as early as July 23, exactly two months after the SEC gave the green light to the first batch of spot ethereum ETFs.

Upcoming launches on CBOE include Fidelity ethereum Fund (FETH), Franklin Templeton ethereum ETF (EZET), Invesco Galaxy ethereum ETF (QETH), VanEck ethereum ETF (ETHV), and 21Shares Core ethereum ETF (CETH).

These funds, along with BlackRock and Grayscale’s ethereum Trust, received initial approval from the U.S. Securities and Exchange Commission (SEC) in May. BlackRock’s iShares ethereum Trust is expected to launch on Nasdaq, while the Grayscale ethereum Trust will debut on the New York Stock Exchange, although neither exchange has made any official announcements yet.

Most ethereum ETF issuers have revealed their fee structures ahead of the upcoming launch. Despite initial fee waivers offered by some issuers to attract investments, post-waiver fees among most asset managers are relatively similar without significant price competition.

Franklin Templeton offers the lowest post-exemption fee at 0.19%, while Grayscale’s ETF management fee is considerably higher at 2.5%. The fee range for other issuers, excluding Grayscale ethereum Mini Trust, is between 0.20% and 0.25%, according to data from Bloomberg ETF analyst James Seyffart.