The Chicago Board Options Exchange (CBOE) has officially announced that they will be launching spot Ethereum exchange-traded funds (ETFs) next week. This news marks a significant milestone for the cryptocurrency market, as these five Ethereum ETFs are scheduled to start trading on July 23.
The five Ethereum ETFs that will be launched are the 21Shares Core Ethereum ETF (CETF), Fidelity Ethereum Fund (FETH), Franklin Ethereum ETF (EZET), Invesco Galaxy Ethereum ETF (QETH), and VanEck Ethereum ETF (ETHV). These ETFs will track the price of ETH, the native token of the Ethereum blockchain, which is currently the second-largest cryptocurrency with a market capitalization of $420.8 billion, just behind Bitcoin.
Despite the announcement, the price of Ethereum has not experienced significant movement, only increasing by 0.8% in the last 24 hours. Trading volumes for Ethereum have also decreased by 15.5%, with $13.3 billion worth of ETH being traded since yesterday.
The launch of these ETFs comes after months of speculation and anticipation from industry analysts. Social media has been abuzz with discussions about the imminent approval of spot Ethereum ETFs. Prominent figures in the ETF space, such as Nate Geraci and Eric Balchunas, have expressed confidence in the approval process and have predicted a successful launch on July 23.
The Securities and Exchange Commission (SEC) had previously delayed the approval of Ethereum ETFs due to concerns about fraud and investor protection. However, with the confirmation from the CBOE, it seems that the approval process has progressed positively, signaling a step forward for the crypto market.
The success and demand for these Ethereum ETFs will be closely monitored, as it could open the door for more crypto ETF filings in the future. This approval coincides with the growing acceptance of crypto investments, as seen in the significant net inflow of $17 billion into spot Bitcoin ETFs.
Overall, the launch of these Ethereum ETFs represents a significant development in the cryptocurrency market and could potentially pave the way for further mainstream adoption of crypto investments. Investors and analysts will be watching closely as these ETFs begin trading next week to gauge their performance and impact on the market.
