CBOE Announces Official Launch Date for Spot Ethereum ETF
The Chicago Board Options Exchange (CBOE) has officially announced that five spot Ethereum exchange-traded funds (ETFs) will begin trading on July 23, pending final regulatory approval. This major step comes just after the US SEC approved the rule changes on May 23, which, in turn, made it possible for the listing of spot Ether ETFs.
Five Ether ETFs Set to Start Trading
The five spot Ether ETFs ready to commence trading include the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck ETF, and Franklin Ethereum ETF. While a portion of these Etf’s investors plan to alleviate or waive fees for the first market period in order to capture their matkert share effectively and compete aginst their rivals who will also availa them for trading.
Expected Market Impact
According to the forecasts of the analysts in the industry the ethereum ETFs could absolutely activate and attract the huge inflows of billions of dollars in the first months after their issue. THe increasin demand from the institutional investors that still do not pilogramm ethereu in their portfolia and potetially it will bring the scarse of supply. The Ethereum Exchange Reserve which follows the amount of available for purchase on cryptocurrency exchanges is at a multi-year low.
Kaiko research mentioned that Ether’s with 1% market depth and some lower liquidity which could create the situation when the volatility would rise and the percentage of gains would go to Ether instead of Bitcoin. An analyst for an institution, Tom Dunleavy, believes that the inflows to the Ethereum ETFs will reach this year to $10 billion with capital flows of $1 billion per month. Dunleavy is really excited about the price influx and believes that Renaissance will show up sooner than we expect.
Analyst Perspectives on Ethereum’s Future
Matt Hougan who is Bitwise’s Chief Investment Officer pointed out that Ethereum stakers were holding onto their assets rather than selling them as did the Bitcoin holders. He emphasized that 28% of the supply of Ether was actually locked up and the accelerated withdrawals of Ethereum from exchanges to cold storage confirmed the expectation of Ether holders to the increase in price in the future.
Political Influence on Ethereum ETF Approval
James Seyffart, an ETF analyst from Bloomberg, said that probably the decision for approving the spot Ethereum ETFs was rather political than financial. During a recent interview, Seyffart proposed that decisions of the political environment and endeavors by the Biden administration, as well as the reactions of the crypto community, were the leading determinants of the approval of the ETFs
Future Prospects for Other Crypto ETFs
One of the leading conditions mentioned by Seyffart is that the regulatory changes without which, other crypto ETFs like some to Solana will most likely not be allowed for trading. He underlined the whole issue by talking about the importance of the existence of a free and fair market to make these assets not manipulated and not fraudulent.
On the other hand, Brian Kelly, the crypto trader, and investor, articulated an interesting idea about the Solana cryptocurrency and the potential of it as the next spot ETF in the US. Providing the answer to the question, it means that, the which coin will be next to grab the opportunity of this trade now in the cryptocurrency market, according to Kelly. To add to that, he posed, “You have got to think about Solana as the probable one next. The rest of the trio contains the established coins Bitcoin and Ethereum with their newer comrade Solana being the third pillar.
