Spot Ether ETF Launch Date Confirmed: July 23rd, CBOE Announces

The crypto market eagerly awaits the launch of spot Ether Exchange-Traded Funds (ETFs), building on the momentum of the successful launch and acceptance of spot Bitcoin ETFs in January. While the Securities and Exchange Commission (SEC) is still reviewing the ETF issuers’ S-1 filings, the Chicago Board Options Exchange (CBOE) has confirmed the launch of five Ether ETFs on July 23.

According to CBOE’s official announcement earlier today, the exchange has listed the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF, all of which are set to start trading on July 23.

The launch of the Bitcoin ETF in January 2024 significantly impacted the market, with top cryptocurrencies surging to new highs. The upcoming launch of the Ether ETF has also fueled speculation of a bull rally, with Ether potentially outperforming Bitcoin.

Despite the CBOE’s confirmation and analysts’ predictions, the SEC has not yet taken the final step to approve the Ether ETF launch. While the regulators approved the 19b-4 forms in May, approval of the S1 registration statements is still pending, with multiple amendments underway.

Previously, analysts had forecasted possible launch dates for these funds, but those dates have not materialized. After SEC Chair Gary Gensler hinted at the smooth processing of the ETF approval, many believed that the ETF could launch in the first week of July. Later, Nate Geraci, President of ETFStore, commented that the ETF would launch by July 15.

Notably, CBOE’s announcement on Ether ETF trading aligns with previous reports suggesting a possible July 23 launch. Bloomberg’s senior ETF analysts, Eric Balchunas and James Seyffart, asserted that the ETF launch is imminent on July 23.

Following CBOE’s ETF listing, Ether has seen a notable surge, currently trading at $3,504. The token is up slightly by 2.23% in a day, with a more significant uptick of 11% in a week. However, over the past month, ETH has declined by a marginal 1.98%.