- Five new spot Ethereum ETFs are set to be launched on the Cboe stock exchange on Tuesday, pending final regulatory approval.
- In addition to the five funds on Cboe, ETFs from Grayscale, BlackRock and Bitwise are expected to start trading on Tuesday.
- Anticipated trade in the ETFs is expected to improve ETH’s liquidity and boost the crypto’s price.
Five new spot Ethereum exchange-traded funds (ETFs) are due to begin trading on the Chicago Board Options Exchange (Cboe) on Tuesday, July 23, 2024.
Notifications shared by Cboe on July 20 confirmed earlier speculation that, pending regulatory approval, the following spot Ethereum ETF products would be listed and available to trade on Tuesday:
- 21Shares’ $CETH
- Fidelity’s $FETH
- Franklin Templeton’s $EZET
- Invesco’s $QETH
- VanEck’s $ETHV
Cboe’s notifications for the new ETFs indicate they’ll be listed on the BZX Exchange and will be quoted and printed to the SIAC Tape B data feed.
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In addition to the five products being listed on Cboe, other major asset managers including BlackRock and Grayscale have submitted S-1 filings for a spot ETH ETF and crypto degens are hotly anticipating the potential price action as the assets begin trading this week.
Bitwise Chief Investment Officer Matt Hougan predicted in June that the new ETH products would attract US$15 billion (AU$22.4b) in net flows in their first 18 months on the market. A number of analysts have also suggested that traders will favour ETH over BTC based on the expected success of the spot Ethereum ETFs—which could see ETH’s price lift, at least short-term.
Since May, final approval and beginning of trading for ETH ETFs has been anticipated, but the decision has not been forthcoming. On July 16, Bloomberg ETF analyst Eric Balchunas reported that the SEC had gotten back to issuers asking them to return their final S-1s including fee details, signalling a July 23 launch date.
Related: Ethereum ETF Decision Postponed; Analysts Anticipate New Trading Date as Traders Grow Bullish
Cboe’s notifications prove that theory correct, assuming there are no last-minute issues with approvals.
Bloomberg’s James Seyffart shared a table showing the fee structure of the new Ethereum ETFs due for launch, indicating that Grayscale’s Ethereum Mini Trust ($ETH) will be the cheapest with a 0.15% fee.
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