CBOE Confirms Launch of Spot Ethereum Exchange-Traded Funds (ETFs) Next Week

The cryptocurrency market is set to witness a major milestone as spot Ethereum ETFs are slated to begin trading on the CBOE next week.

The Chicago Board Options Exchange (CBOE) has confirmed the upcoming launch of spot Ethereum exchange-traded funds (ETFs) on its exchange next week.

This marks a significant milestone for the cryptocurrency market, as spot Ethereum ETFs have been highly anticipated by traders and investors alike.

The CBOE unveiled the information in the latest “new listings” notice on its website, which showcases the launch of five Ethereum (ETH) ETFs.

As per the notification, trading for these anticipated ETFs is set to commence on July 23, subject to regulatory approval.

The upcoming ETFs will track ETH, the native token of the Ethereum blockchain, which currently ranks as the second-largest cryptocurrency by market capitalization. With a market value of $420.8 billion, ETH is surpassed only by Bitcoin's $1.1 trillion market capitalization.

While the news has yet to significantly impact ETH's price, which rose by a modest 0.8% over the past 24 hours, the second-largest cryptocurrency has seen minimal price movement. In the last 24 hours, ETH has seen trades amounting to $13.3 billion, indicating a decline compared to the previous day.

This development follows months of speculation and revised predictions from industry analysts regarding the launch of spot Ethereum ETFs.

Social media buzz

Anticipation for the launch of spot Ethereum ETFs has been palpable on social media recently.

For example, on July 14, Nate Geraci, a prominent figure in the ETF space, expressed confidence in the imminent approval, stating that he could not identify any clear reasons for further delays and adding that issuers were prepared for the launch.

Among the recent highlights, Bloomberg's Senior ETF analyst Eric Balchunas reinforced Geraci's prediction on July 15, informing his followers that the SEC had contacted issuers to finalize documentation and request effectiveness for a launch on Tuesday, July 23, assuming “no unforeseeable last-minute issues” arose.

Update: Nate's instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course! https://t.co/D21FD9Qf94

Earlier forecasts by Balchunas had suggested that the ETFs might begin trading as early as July 2. However, he later adjusted his prediction to July 18, which closely aligns with the new official launch date.

Moreover, two months ago, the Securities and Exchange Commission (SEC) appeared to apply the brakes on the approval of Ethereum ETFs, using the same arguments it had made when delaying approval for spot Bitcoin ETFs. The regulator expressed concerns regarding potential fraud and investor protection with the spot Ethereum ETFs.

Nevertheless, the confirmation from the CBOE signals a promising step forward for the crypto market. The performance and demand for these spot Ethereum ETFs will be closely monitored, as their success could pave the way for additional crypto ETF filings in the future.

This approval also coincides with the strong performance of spot Bitcoin ETFs, which have seen a significant net inflow of $17 billion, highlighting the increasing mainstream acceptance of crypto investments.

The above is the detailed content of CBOE Confirms Launch of Spot Ethereum Exchange-Traded Funds (ETFs) Next Week. For more information, please follow other related articles on the PHP Chinese website!