The long-anticipated spot Ethereum ETF products are scheduled to start trading by July 23. The Cboe trading platform said five of the Ethereum ETFs will go live on its platform.
Selected Investment Firms to Start Trading Ethereum ETFs
Recently, the Chicago Board Option Exchange (Cboe) confirmed that five Ethereum EFTs will go live out of the eight digital products approved. Albeit still awaiting the final verdict from the U.S. Securities and Exchange Commission (SEC).
Cboe new listings…
It’s happening.
Almost go time. pic.twitter.com/V1wCcxYoCH
— Nate Geraci (@NateGeraci) July 19, 2024
These digital products includes Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and the 21Shares Core Ethereum ETF.
Before now, the SEC issued a preliminary approval to three out of eight asset managers aiming to offer these digital products to their clients. Following that, investment issuers submitted the required S-1 documents to the agency. Over the past week, there have been constant amendments done to the submitted documents.Â
Eric Balchunas, the Senior Bloomberg ETF Analyst, verified the trading date of July 23 in a post on X. He mentioned that the SEC received all issuers amended S-1 filings on Wednesday in preparation for the July 23 launch. The submitted documents disclosed that Grayscale, 21Shares released more competitive discount fees, a move to gain early market advantage than their counterparts’ initial sponsor fees.
Market Experts Predicts a Bright Future for Ethereum ETF
This update has caused enthusiasm in the crypto community. Many industry experts including Matt Hougan, Bitwise’s Chief Investment Officer, have issued a positive Ethereum prediction post-ETF launch.
Crypto enthusiasts are hoping the potential increase in interest could have significant effects on Ethereum’s value and how the market responds. In contrast to this sentiment, Peter Schiff, a crypto critic, predicted the market price to decline irrespective of the Ethereum ETF influence.
According to the CoinMarketCap data, Ethereum is currently trading at $3,487.43, up by 1.66% in the last 24 hours.
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