CBOE Confirms Launch of Nine Ethereum ETFs on July 23

Jul 21, 2024, 11:10 AM

The Chicago Board Options Exchange (CBOE) has confirmed the launch of nine spot Ethereum exchange-traded funds (ETFs) on July 23, 2024, pending regulatory effectiveness. This development, announced on July 19, marks a significant milestone for Ethereum, which will become the only tokenization platform with spot ETFs and be officially classified as a commodity. Analysts predict that the launch could attract significant institutional investment, with expected inflows of $5 to $10 billion, boosting Ethereum's liquidity. The ETFs' introduction follows a series of approvals from the SEC for listings on major exchanges, including NYSE Arca. Despite the optimism, some analysts caution that Ethereum's price might decline after the initial buzz fades if its supply continues to increase at the current rate. Wall Street is closely watching the launch, anticipating its impact on the broader crypto market.