Cboe Confirms Launch of 5 Spot Ethereum ETFs on July 23

By: Eva Baxter

The Chicago Board Options Exchange (Cboe) has confirmed the scheduled trading initiation of five new spot Ethereum exchange-traded funds (ETFs) set for July 23. This announcement comes amid expectations for greater institutional adoption of Ethereum, as regulatory clarity continues to improve.

The ETFs in question are managed by leading investment firms, including 21Shares' CETH, Fidelity's FETH, Franklin Templeton's EZET, Invesco's QETH, and VanEck's ETHV. All these funds will be listed on Cboe’s BZX Exchange and quoted on the SIAC Tape B data feed, pending final regulatory approval from the SEC.

Senior Bloomberg ETF analyst Eric Balchunas indicated on July 15 that the SEC had directed that final amendments be submitted by the issuers, signaling a new phase in the approval process. The official regulatory green light is anticipated on July 22, allowing for the trading to commence the following Tuesday. The issuers complied by updating their S-1 forms on July 18 to disclose final details, including sponsor fees.

The launch of these ETFs is predicted to significantly enhance Ethereum's liquidity and market depth, attracting considerable interest from institutional investors wary of direct cryptocurrency investments due to regulatory uncertainties. Analysts speculate that this development could propel Ethereum prices to new heights, with some projections suggesting a surge above $5000.

This move is seen as a potential harbinger of broader integration of digital assets into traditional financial products. The SEC's approval might spur other global jurisdictions to follow suit, potentially initiating a worldwide increase in the availability of crypto ETFs. Furthermore, investment firms are showing interest in creating ETFs for other major cryptocurrencies like Solana and Injective, although the absence of regulated futures markets for these tokens might present challenges.

As of the latest data, Ethereum was trading at $3515, reflecting a 2.2% increase over the past 24 hours.