Five Spot Ethereum ETFs, including Fidelity and VanEck, are set to launch on July 23rd, according to the CBOE exchange. Cboe posted new issue notifications Friday afternoon, which are procedural for ETF launches, revealing the Ethereum ETF launch date.
Cboe will house most of the first trading of Ether ETFs. The exchange has revealed that trading will commence next week. These include the Fidelity Ethereum Fund, the Franklin Ethereum ETF, the Invesco Galaxy Ethereum ETF, the VanEck Ethereum ETF, and the 21Shares Core Ethereum ETF. “We are pleased to announce that 1 Exchange Traded Product (‘ETP’) will be listed on Cboe and will begin trading as a new issue on July 23, 2024,” the exchange said.
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How Are Firms Pricing Their Ethereum ETFs?
Ether ETF applicants first received 19b-4 form approvals back in May. However, there has been a delay in wrapping up final loose ends. In addition, firms disclosed fee amounts in amended registration statements on Wednesday:
- Fidelity set its fee at 0.25% and said it would waive it through the end of 2024.
- Franklin Templeton said it will waive its fee until Jan. 31, 2025, on the first $10 billion of the fund’s assets.
- VanEck said it will waive its fee for a year after the fund is listed for the first $1.5 billion.
- 21Shares set a 0.21% fee, which will be waived for six months starting when the shares are listed or during the first $500 million, whichever comes first.
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Furthermore, an interesting note is the timing of the approval. The SEC is greenlighting the launch date of the Ethereum ETF during the biggest Bitcoin conference of the year. That week will be a memorable one for all of crypto, as BTC and ETH represent the only two cryptocurrencies with an ETF in the US.
Now, all eyes are on what token could be next. There has been a lot of anticipation surrounding a possible Solana ETF soon. Crypto ETFs have entered the spotlight. As a result, the opening week performance of Ether ETFs may dictate how easily the next ETF is approved in the future.