Cboe Confirms Trading of 5 Spot Ethereum ETFs Begins July 23
The Chicago Board Options Exchange (Cboe) has issued listing notices for five new spot Ethereum exchange-traded funds (ETFs) that are set to begin trading on July 23, confirming a report from earlier this week.
The notice made it clear that the funds were awaiting final regulatory approval. The five ETFs are 21Shares’ CETH, Fidelity’s FETH, Franklin Templeton’s EZET, Invesco’s QETH, and VanEck’s ETHV.
Each ETF is listed on Cboe’s BZX exchange and appears on the SIAC Tape B data feed.
Eric Balchunas, senior analyst at Bloomberg ETFs, reported on July 15 that the SEC had ordered issuers to file final amendments in preparation for trading to begin next week.
According to sources, Balchunas said regulators are expected to give final approval on July 22, setting the stage for trading to begin on Tuesday. The issuer then filed an amended Form S-1 on July 18, revealing final details about the fund, including sponsorship fees.
The introduction of these ETFs is expected to enhance Ethereum’s liquidity and market depth. Analysts predict that the ETFs will attract a wide range of institutional investors who have been cautious about investing directly in cryptocurrencies due to regulatory uncertainty.
The ETF is expected to pave the way for further institutional adoption, potentially driving the Ethereum price higher. Some analysts predict the token could hit $5,000.
The launch of these ETFs could signal the beginning of a broader trend toward integrating digital assets into traditional financial products. The SEC’s decision could influence other jurisdictions to follow suit, potentially leading to a global expansion of crypto ETFs.
Some companies have already started working on ETFs linked to other major crypto tokens, such as Solana and Injective. However, some experts believe that the lack of a regulated futures market for these tokens could make it difficult to secure approval.
According to CryptoSlate data, Ethereum is trading at $3,515 at the time of writing, up 2.2% over the last 24 hours.
Bitcoin Market Data
At the time of reporting 12:43 AM (UTC) on July 20, 2024Bitcoin ranks first in terms of market capitalization and its price is consolation 4.22% Bitcoin’s market cap over the last 24 hours has been $1.32 trillion With 24 hour trading volume $36.95 billion. Learn more about Bitcoin ›
$66,736.68
4.22%
Cryptocurrency Market Summary
At the time of reporting 12:43 AM (UTC) on July 20, 2024The overall cryptocurrency market is assessed as follows: $2.43 trillion 24 hour volume $83.85 billion. Bitcoin’s dominance is currently as follows: 54.19%. Learn more about the cryptocurrency market ›
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Assad Jafri
AJ has been a passionate journalist for over 10 years, honing his skills globally since the Arab Spring in Yemen in 2011. He specializes in financial journalism and currently focuses on cryptocurrency reporting.
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