The Chicago Board Options Exchange (Cboe) issued listing notifications for five new spot Ethereum exchange-traded funds (ETFs) scheduled to begin trading on July 23 — confirming reports from earlier in the week.
The notifications clarify that the funds are pending 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 will be listed on Cboe’s BZX Exchange and quoted on the SIAC Tape B data feed.
Senior Bloomberg ETF analyst Eric Balchunas reported on July 15 that the SEC had instructed issuers to submit final amendments in preparation for a trading launch next week.
Sources told Balchunas that the regulator would give the final green light on July 22, setting the stage for a Tuesday trading launch. The issuers subsequently filed amended S-1 forms on July 18, revealing the final details for their funds, including sponsor fees.
The introduction of these ETFs is anticipated to enhance Ethereum’s liquidity and market depth. Analysts predict that the ETFs will attract a broad range of institutional investors who have been cautious about direct cryptocurrency investments due to regulatory uncertainties.
The ETFs are expected to pave the way for further institutional adoption, potentially driving Ethereum prices higher. Some analysts project that the token will climb above $5000.
The launch of these ETFs could mark the beginning of a broader trend of integrating digital assets into traditional financial products. The SEC’s decision may influence other jurisdictions to follow suit, potentially leading to a global expansion of crypto ETFs.
Some firms have already begun work on ETFs linked to other major crypto tokens like Solana and Injective. However, some experts believe the lack of a regulated futures market for these tokens could be a challenge in securing approval.
Ethereum was trading at $3515 as of press time, up 2.2% over the past 24 hours, based on CryptoSlate data.
Bitcoin Market Data
At the time of press 12:43 am UTC on Jul. 20, 2024, Bitcoin is ranked #1 by market cap and the price is up 4.64% over the past 24 hours. Bitcoin has a market capitalization of $1.32 trillion with a 24-hour trading volume of $37 billion. Learn more about Bitcoin ›
$66,987.79
4.64%
Crypto Market Summary
At the time of press 12:43 am UTC on Jul. 20, 2024, the total crypto market is valued at at $2.44 trillion with a 24-hour volume of $83.73 billion. Bitcoin dominance is currently at 54.24%. Learn more about the crypto market ›
Mentioned in this article
Assad Jafri
AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
News Desk
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
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