- CBOE confirms Spot Ethereum ETFs trading to start on July 23, 2024, pending regulatory approval.
- Five Spot Ethereum ETFs, including Fidelity and Ark 21Shares, will launch, offering investors new market opportunities.
- Analysts have mixed predictions on ETH ETFs’ success, with potential high demand and market impact under scrutiny.
The Chicago Board Options Exchange (CBOE) has confirmed that trading for Spot Ethereum ETFs will begin on July 23, 2024, as highlighted by Wu Blockchain on his X account, formerly known as Twiter.
On July 19, CBOE released a notification on its official website, detailing the launch of Spot Ethereum ETFs. The notification states that trading for five Spot ETH ETFs will start on July 23, 2024, pending regulatory approval.
Previously, analysts such as Eric Balchunas of Bloomberg had predicted an earlier launch date for the Spot ETH ETFs. Balchunas initially suggested a July 2 launch, later revising his forecast to July 18. The CBOE’s confirmation of a July 23 launch comes after several issuers needed to amend and resubmit their S-1 registration forms to the SEC, causing delays.
The five Spot Ethereum ETFs set to launch include Fidelity Ethereum ETF Fund (FETH), Ark 21Shares Core Ethereum ETF (CETH), Franklin Ethereum ETF (EZET), VanEck Ethereum ETF (ETHV), and Invesco Galaxy Ethereum ETF (QETH). These ETFs provide investors with an opportunity to gain exposure to Ethereum (ETH) without the significant volatility often associated with direct cryptocurrency investments.
The introduction of these Spot Ethereum ETFs is expected to bring greater diversification to the crypto market, offering a new trading option beyond Spot Bitcoin ETFs. The performance and demand for these ETFs will be closely watched, as their success could pave the way for more crypto ETF filings in the future.
Analysts have differing opinions on the potential success of Spot Ethereum ETFs. Matt Hougan, Chief Investment Officer (CIO) of Bitwise, predicts that these ETFs will gather approximately $15 billion in new assets within the first 18 months. He also anticipates that this demand could drive the price of ETH to a $5,000 all-time high.
In contrast, Samson Mow, CEO of Bitcoin technology company JAN3, believes that Spot Ethereum ETFs will underperform compared to Spot Bitcoin ETFs. Mow argues that Ether ETFs will not generate the same level of demand as their Bitcoin counterparts.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
