Cboe Unveils Official Launch Date for Five Ethereum Spot ETFs

The Chicago Board Options Exchange (Cboe) gives the launch date of five Ethereum on the spot market (ETH) exchange-traded funds (ETFs).

Cboe’s New Announcements Page watch that Ethereum ETFs from issuers 21Shares, Fidelity, Franklin Templeton, Invesco and VanEck are expected to launch on Tuesday, July 23.

Last week, Eric Balchunas, senior ETF analyst at Bloomberg said Ethereum ETFs are set to begin trading on Tuesday after the U.S. Securities and Exchange Commission (SEC) required issuers to make final amendments to their Form S-1 registration statement.

Cryptocurrency market participants have been anticipating the launch of Ethereum ETFs since May, when the SEC abruptly changed position on investment products.

IntoTheBlock, an analysis company said as deep-pocketed cryptocurrency investors rush to invest in Ethereum in anticipation of the ETF launch.

“$126 million worth of ETH was withdrawn from exchanges [last] week, signaling accumulation ahead of the ETF launch.”

While whales seem bullish on ETH, crypto analyst Kaleo believes the ETF launch will lead to a brief price rally before Ethereum sees a correction. According to Kaleo, the ETF launch will prove to be a news-selling event.

But after the pullback, the trader predicts ETH to rise above $4,550.

“If you’re really bullish on this cycle, another move lower would be a real treat. We’re going to go a lot higher from here – I just think we might need a little more patience before the fun really begins.”

Source: Kaléo/X

At the time of writing, Ethereum is worth $3,521, a slight increase over the day.

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