ETH Price Poised for Massive Bullish Quake as Cboe Confirms Ethereum ETF Spot Trading to Start on July 23 ⋆ ZyCrypto

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The Chicago Board of Options Exchange (CBOE) confirmed on July 19 via notices posted on its website that U.S.-listed Ethereum exchange-traded funds (ETFs), including those from asset management giants Fidelity and Franklin Templeton, will begin trading on national securities exchanges on July 23.

Ether ETFs Officially Hit the Market Tuesday

Ethereum-Based ETFs Holding Ether (ETH) Directly Coming to the US Soon

Cboe announced on Friday that the following Ethereum ETFs will begin trading on July 23: 21Shares Core Ethereum ETF (CETH), Fidelity Ethereum Fund (FETH), Franklin Ethereum ETF (EZET), Invesco Galaxy Ethereum ETF (QETH), and VanEck Ethereum ETF (ETHV).

“We are pleased to announce that one (1) Exchange Traded Product (“ETP”) will be listed on Cboe and will begin trading as a new issue on July 23, 2024, pending regulatory effectiveness,” the listing reads.

On May 23, the U.S. Securities and Exchange Commission approved Form 19b-4 that allows eight exchange-traded funds (ETFs) to list on the ether market, in an unexpected move for the agency headed by Gary Gensler. However, potential issuers still need their Form S-1 registration statements to become effective before trading can officially begin.

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It’s worth noting that hours before the SEC greenlit the bitcoin ETFs in January, one of the listed exchanges, Cboe, added the funds to its “New Listings” page, noting that this is “standard procedure” before new ETFs are approved. However, since five of the Ether ETFs will be listed on Cboe, the notifications are procedural before launch.

Tuesday was expected: Bloomberg ETF analyst Eric Balchunas recently identified July 23 as a possible launch date as the SEC sought final drafts of filings from issuers.

Issuers disclosed their custodial fees in updated registration forms on Wednesday, suggesting progress. Most ETF issuers have disclosed plans to temporarily waive fees to gain a market advantage over others after the investment vehicles go live. Fidelity has posted a 0.25% fee, while VanEck previously said it would charge a 0.20% management fee for its fund.

ETH price is next on the list of all-time high prices

Ethereum could be on the verge of hitting an all-time high as the crypto world is set to see the launch of the first Ether spot ETFs next week. The massive supply shock following increased appetite from institutions looking to fill their ETH ETFs could send the price of Ether soaring.

Industry experts have predicted that Ether exchange-traded funds (ETFs) could attract billions of dollars in net inflows in the first months after launch. The emergence of U.S.-based ETFs pegged to the spot price of Ether could push the price of Ether to $5,000 by the end of the year.

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