The Chicago Board Options Exchange (Cboe) has issued listing notices for five new spot ethereum exchange-traded funds (ETFs) scheduled to begin trading on July 23, confirming reports from earlier in the week.
The notice clarifies 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 traded on the SIAC Tape B data feed.
Eric Balchunas, a senior ETF analyst at Bloomberg, reported on July 15 that the SEC had ordered issuers to file final amendments in preparation for the commercial launch next week.
Sources told Balchunas that the regulator would give the final green light on July 22, paving the way for the launch of trading on Tuesday. The issuers subsequently filed amended S-1 forms on July 18, disclosing the final details of their funds, including sponsor fees.
The introduction of these ETFs is expected to improve the liquidity and depth of the ethereum market. Analysts predict that the ETFs will attract a wide range of institutional investors who have been wary of direct investments in cryptocurrencies due to regulatory uncertainties.
ETFs are expected to pave the way for greater institutional adoption, which could fuel ethereum’s price surge. Some analysts project the token will surpass $5,000.
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 cryptocurrency ETFs.
Some firms 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 be a challenge in gaining approval.
At press time, ethereum was trading at $3,515, up 2.2% over the past 24 hours, according to data from CryptoSlate.
bitcoin Market Data
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Cryptocurrency Market Overview
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Assad Jafri
A passionate journalist since the 2011 Arab Spring in Yemen, AJ has honed his skills around the world for over a decade. Specializing in financial journalism, he now focuses on cryptocurrency reporting.
