Thomas Daniels
The cryptocurrency market is poised for a significant milestone as the Chicago Board Options Exchange (CBOE) prepares to launch five spot Ethereum exchange-traded funds (ETFs) next week, pending regulatory approval. According to the latest “new listings” notice on the CBOE’s website, trading for these ETFs is scheduled to commence on July 23, barring any last-minute issues.
The ETFs set for launch include:
- 21Shares Core Ethereum ETF (CETF)
- Fidelity Ethereum Fund (FETH)
- Franklin Ethereum ETF (EZET)
- Invesco Galaxy Ethereum ETF (QETH)
- VanEck Ethereum ETF (ETHV)
These ETFs will track ETH, the native token of the Ethereum blockchain, which is the second-largest cryptocurrency by market capitalization, currently valued at $420.8 billion. In comparison, Bitcoin maintains a market capitalization of $1.1 trillion.
Despite the announcement, the price of ETH has shown only a modest increase of 0.8% over the past 24 hours, with trading volumes down by 15.5%, amounting to $13.3 billion in transactions.
The upcoming launch has generated considerable excitement on social media. On July 14, Nate Geraci, a notable figure in the ETF space, expressed confidence in the approval process, citing no apparent reasons for delays. Following this, Bloomberg’s Senior ETF analyst Eric Balchunas reported on July 15 that the SEC had contacted issuers to finalize documentation, aiming for a July 23 launch, assuming no unexpected issues arise.
Balchunas initially predicted a July 2 launch date, later revising it to July 18, aligning closely with the newly confirmed date.
The SEC had previously delayed the approval of Ethereum ETFs, citing concerns over potential fraud and investor protection, similar to the reasons for postponing spot Bitcoin ETFs. However, the CBOE’s confirmation indicates a positive step forward for the cryptocurrency market. The performance and demand for these ETFs will be closely monitored, as their success could lead to further crypto ETF filings in the future.
This development parallels the strong performance of spot Bitcoin ETFs, which have seen a substantial net inflow of $17 billion, underscoring the growing mainstream acceptance of cryptocurrency investments.
