The Chicago Board Options Exchange (CBOE) has confirmed the launch of ethereum spot exchange-traded funds (ETFs) next week.
The cryptocurrency market is set to witness a major milestone as ethereum spot ETFs will begin trading on the CBOE next week.
CBOE revealed the information in the latest “new listings” warning On its website, the launch of five ethereum (eth) ETFs is confirmed. These include:
- 21Shares ethereum Core ETF (CETF)
- Fidelity ethereum Fund (FETH)
- Franklin ethereum ETF (EZET)
- Invesco Galaxy ethereum ETF (QETH)
- VanEck ethereum ETF (ETHV)
According to the notice, trading in these highly anticipated ETFs will commence on July 23, pending regulatory approval.
The proposed ETFs will track eth, the native token of the ethereum blockchain, which is the second-largest cryptocurrency with a market capitalization of $420.8 billion, behind only bitcoin's $1.1 trillion market value.
The price of eth hasn’t reacted much to the news so far, only up a modest 0.8% over the past 24 hours. Trading volumes are also down 15.5%, with roughly $13.3 billion worth of eth changing hands since yesterday.
This development follows months of speculation and revised predictions by industry analysts.
Rumors on social media
More recently, anticipation for the launch of ethereum spot ETFs has been evident on social media. For example, on July 14, Nate Geraci, a prominent voice in the ETF space, expressed confidence in the imminent approval, citing no apparent reasons for further delays and noting that issuers were prepared for the launch.
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Following this, on July 15, Bloomberg senior ETF analyst Eric Balchunas reinforced Geraci’s prediction, informing his followers that the SEC had reached out to issuers to finalize paperwork and request effectiveness for a launch on Tuesday, July 23, assuming no “unforeseeable last-minute issues” arose.
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Balchunas' previous forecasts had suggested the ETFs could begin trading on July 2, but he later adjusted his prediction to July 18, which closely matches the new official launch date.
Two months ago, the Securities and Exchange Commission (SEC) appeared to have put the brakes on approving ethereum ETFs, using the same arguments it had used when it delayed approval of bitcoin spot ETFs. The regulator claimed there were concerns about potential fraud and investor protection regarding ethereum spot ETFs.
However, the CBOE confirmation indicates a promising development for the cryptocurrency market. Its performance and demand will be closely monitored as its success could pave the way for more cryptocurrency ETFs to be introduced in the future.
This approval coincides with the markedly improved performance of bitcoin spot ETFs, which have seen a significant net inflow of $17 billion, highlighting the growing mainstream acceptance of cryptocurrency investments.
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