CBOE announced July 23rd as spot Ethereum ETF launch day

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The long awaited launch of spot Ethereum Exchange-Traded Funds is set for July 23rd, finally.

While the SEC is still reviewing the filings from the ETF issuers, the Chicago Board Options Exchange, the CBOE officially confirmed the launch of five Ethereum ETFs.

Open the gates

Based on the official announcement, the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF will all begin trading on July 23.

Let the fireworks begin! The market’s response is already pretty positive, building on the momentum from January’s Bitcoin ETF launch, which saw really nice gains for top cryptocurrencies.

The introduction of the Bitcoin ETF earlier this year led to a rise in cryptocurrency prices, as the optimism grew alongside with the arrival of new institutional money.

The forthcoming Ethereum ETF launch sparked similar speculation about a potential bull rally, with some analysts think that Ethereum could outperform even Bitcoin.

Fair to say they’re waiting to the so-called flippening for years, but all we saw was decline. Despite these positive forecasts and CBOE’s confirmation, the SEC hasn’t yet given final approval for the Ethereum ETFs.

The SEC approved the 19b-4 forms in May, but the S1 registration statements are still under review, with several amendments being made.

Speculations everywhere

Earlier predictions for the launch dates of these ETFs didn’t materialize. After SEC Chair Gary Gensler hinted at a smooth approval process, many believed the ETFs could launch in early July. But they didn’t.

Another industry participant, Nate Geraci, President of ETFStore, even suggested a launch by July 15. CBOE’s newest announcement aligns with previous reports indicating a July 23 launch.

Bloomberg’s senior ETF analysts, Eric Balchunas and James Seyffart also asserted that the launch is imminent.

Bull run

Following CBOE’s listing announcement, Ethereum’s price reacted as expected, and experienced a price increase.

Right now, Ethereum is trading around $3,500, showing a slight daily rise of 2.23% and a much nicer 11% increase over the past week.

But in monthly view, the picture is less happy, the price declined by almost 2%.

Now the majority of the crypto community thinks the launch of these ETFs is will bring huge impact to the market, much like the Bitcoin ETF did earlier this year.

If the SEC finalizes its approval, the market might see big shifts, and the bull run can begin.

Have you read it yet? Bollinger Bands predict $190K Bitcoin price

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