Five Ethreum Spot ETFs are confirmed to be launching on 23rd July.
The Chicago Board Options Exchange (CBOE) has officially confirmed that five Spot Ethereum exchange-traded funds (ETFs) are set to debut on July 23. According to Friday’s new issue notifications by the exchange, the ETFs to be listed are from 21Shares, Fidelity, Franklin, VanEck, and Invesco Galaxy.
This means that the CBOE will be the primary exchange for the initial trading of the much-anticipated Ether ETFs.
Other Confirmations
On July 16, Bloomberg analyst Eric Balchunas confirmed the launch date, assuming no last-minute complications arise. According to his disclosure, Tuesday, July 23 could be the date of ETH spot ETFs launch.
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
— Eric Balchunas (@EricBalchunas) July 15, 2024
Moreover, a recent Reuters report cites industry insiders who revealed that asset managers BlackRock, VanEck, and Franklin Templeton are among the eight applicants expected to receive approval from the SEC by July 22.
Fee Structure
It is important to note that the regulator approved the 19b-4 forms received by Ether ETF applicants in May. However, the S-1 filings still required the regulator’s nod before the new products could be traded on exchanges. Last week, the issuers disclosed their fee structures in amended registration statements.
Fidelity has set its fee at 0.25% and will waive it through the end of 2024. Franklin Templeton has decided to waive its fee on the first $10 billion of the fund’s assets until January 31, next year.
VanEck plans to waive its fee for the first $1.5 billion for the next year. Meanwhile, 21Shares has set a 0.21% fee, which will be waived for six months starting when the shares are listed or during the first $500 million, whichever comes first.
Ethereum’s current trading price hovers above $3,500, up by over 5% in the past week. The second-largest cryptocurrency by market cap reached its all-time high of $4,891 in November 2021. With the upcoming launch of these ETFs, the crypto community hopes to see Ethereum challenge its peak.
The successful launch of spot Bitcoin ETFs in January has motivated financial institutions to offer an ETF tied to Ethereum. The market’s focus now shifts to the potential for other crypto ETFs, with a major buzz around a potential Solana ETF.
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