• Chicago Board Choices Trade (CBOE) has listed 5 spot Ethereum ETFs, scheduled to launch on July twenty third.
• The announcement comes whereas remaining approval of the ETH ETF by the SEC remains to be pending.
• Analysts speculate that Ethereum will outperform Bitcoin following the launch of an Ethereum ETF.

The cryptocurrency market is eagerly awaiting the launch of a spot Ether exchange-traded fund (ETF), using on the momentum of the profitable launch and acceptance of a spot Bitcoin ETF in January. Whereas the Securities and Trade Fee (SEC) remains to be reviewing the ETF issuer's S-1 submitting, the Chicago Board Choices Trade (CBOE) confirmed the launch of 5 Ether ETFs on July 23.

In accordance with an official CBOE announcement early as we speak, the alternate is itemizing the 21Shares Core Ethereum ETF, Constancy Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF and Franklin Ethereum ETF, all of that are scheduled to start buying and selling on July twenty third.

The launch of a Bitcoin ETF in January 2024 had a significant impression available on the market, sending the main cryptocurrency hovering to new highs. The upcoming launch of an Ethereum ETF has additionally fueled bull market hypothesis, probably resulting in Ethereum surpassing Bitcoin.

Regardless of CBOE’s affirmation and analysts’ predictions, the SEC has but to take the ultimate step of approving the launch of the Ether ETF. Whereas the regulator accepted the 19b-4 type in Might, approval of the S1 registration assertion remains to be pending, with a number of amendments underway.

Beforehand, analysts had predicted launch dates for these funds that by no means materialized. After SEC Chairman Gary Gensler steered the ETF approval course of was on observe, many thought it might launch within the first week of July. ETFStore President Nate Geraci then commented that the ETF would launch by July 15.

Notably, CBOE's announcement concerning Ethereum ETF buying and selling coincides with earlier stories suggesting a potential launch on July 23. Bloomberg senior ETF analysts Eric Balchunas and James Seifert claimed the ETF's launch was imminent on July 23.

Following the CBOE ETF itemizing, Ethereum has seen a major upswing and is presently buying and selling at $3,504. The token is up 2.23% in a day and a good larger 11% within the week. Nevertheless, over the previous month, ETH is down simply 1.98%.