The Chicago Board Options Exchange (Cboe) has issued a listing notice for five new spot Ethereum exchange-traded funds (ETFs) scheduled to begin trading on July 23, confirming reports from earlier this week.
The notice states that the funds are awaiting 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 trade on the SIAC Tape B data feed.
Bloomberg ETFs senior analyst Eric Balchunas reported on July 15 that the SEC had instructed issuers to submit final amendments in preparation for trading to begin next week.
The people told Balchunas that regulators would give their final approval on July 22, setting the stage for the deal to begin trading on Tuesday. The issuer then filed an amended S-1 form on July 18, revealing final details of the fund, including sponsor fees.
The introduction of these ETFs is expected to increase liquidity and market depth for Ethereum, with analysts predicting that they will attract a broad range of institutional investors who have been wary of investing directly in cryptocurrencies due to regulatory uncertainty.
It is hoped that the ETF could pave the way for further institutional adoption and boost Ethereum's price, with some analysts predicting the token could surpass $5,000.
The launch of these ETFs could be the start of a broader trend of integrating digital assets into traditional financial products. The SEC's decision could have an impact on other jurisdictions, leading to a global expansion of cryptocurrency ETFs.
Some companies have already begun developing ETFs linked to other major crypto tokens, including Solana and Injective, but some experts believe the lack of a regulated futures market for these tokens could make it difficult to gain approval.
At press time, Ethereum was trading at $3,515, up 2.2% over the past 24 hours, according to data from CryptoSlate.
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Asaad Jaffrey
AJ has been a passionate journalist since the Arab Spring in Yemen in 2011, honing his skills around the world for over a decade. He specializes in financial journalism and currently focuses on reporting on cryptocurrencies.
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CryptoSlate is a comprehensive, contextualized source of cryptocurrency news, insights, and data, with a focus on Bitcoin, Macro, DeFi, and AI.
