Cboe to List 5 Ethereum ETFs on July 23
Cboe, the Chicago Board Options Exchange, has announced its plans to list five Ethereum exchange-traded funds (ETFs) on July 23. These ETFs include the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, and VanEck Ethereum ETF. The Chief Information Officer of Bitwise, Matt Hougan, is optimistic about the potential of the Ethereum ETF, predicting it could bring in $15 billion in net flows within the first 18 months of listing.
In May, the U.S. Securities and Exchange Commission (SEC) approved a rule change for Ethereum’s spot filing, but regulatory approval is still pending for the S-1 registration. Asset managers were given until July 16 to file finalized S-1s, with $500 million in fee reductions being offered for the next six months. All eyes are now on the SEC as the launch date approaches, bringing new investment products to the market.
Solana ETF Applications Submitted by Cboe
In addition to the Ethereum ETFs, Cboe has submitted applications to list spot Solana ETFs on its platform. The exchange has requested approval from the SEC to list the 21Shares and VanEck Solana ETFs. The SEC has until March 2025 to make a decision after the Form 19b-4 filing.
VanEck and 21Shares have both filed S-1 forms with the SEC, with VanEck being the first U.S. company to do so. As interest in Bitcoin ETFs grows and with the upcoming launch of the Ethereum ETF on Cboe, asset managers are exploring new investment options pending SEC approval.
Future of Crypto ETFs
The approval and listing of Ethereum and Solana ETFs by Cboe mark a significant milestone in the cryptocurrency market. It shows a growing acceptance and interest in digital assets among traditional financial institutions and investors. The success of these ETFs could pave the way for more crypto-based investment products in the future.
Overall, the expansion of ETF offerings in the crypto space reflects a broader trend of mainstream adoption and integration of digital assets into traditional investment portfolios. As regulatory frameworks evolve and investor demand increases, we can expect to see more innovative and diversified investment opportunities in the cryptocurrency sector.
