Spot Ethereum ETFs to Begin Trading on Cboe Starting July 23

Spot Ethereum exchange traded funds (ETFs) are set to begin trading on Tuesday, July 23, as confirmed by the Chicago Board Options Exchange (Cboe) through notices posted on its website. Cboe announced that the following spot Ethereum ETFs will start trading on Tuesday: 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," each listing states, according to Decrypt.

Approval by the SEC will conclude an over eight-month saga, seemingly influenced by Presidential election politics, and underscore traditional finance's efforts to meet the soaring demand for cryptocurrency investments.

The proposed funds, which track ether, the token of the Ethereum blockchain, would become the second set of products based on the ongoing price of a major cryptocurrency to list on U.S. exchanges. Ether, with a market capitalization of $420 billion, is the second largest digital asset, following bitcoin's $1.1 trillion market value.

Spot Ethereum ETFs received initial approvals from the SEC in May, marking a surprising shift from the regulator, which had previously scrutinized Ethereum-centric firms and treated the asset differently from Bitcoin. However, just four months after spot Bitcoin ETFs began trading in the U.S., the SEC followed suit with initial approvals for Spot Ethereum ETFs.

Approval of a 19-B4 rules change submitted in May by the Nasdaq, NYSE and Cboe exchanges where the funds will trade increased the likelihood of final approval. Cboe now appears confident that ETF operators will receive their final approvals before trading begins on Tuesday.