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Chicago Board Options Exchange (CBOE) has confirmed that five spot Ethereum ETFs are going live by July 23.
Ethereum ETF issuers prepared for launch
The stock exchange updated its platform to show some new listings scheduled for July 23. Notably, Ethereum ETFs from Fidelity, Invesco Galaxy, Franklin Templeton, VanEck and 21Shares were on it. Such a listing from the platform where many of these proposed Ethereum ETFs will trade is a huge morale boost for expectant investors.
Arman ShirinyanAdditionally, such notices are essential procedures that precedes a product launch.
Noteworthy, the United States Securities and Exchange Commission (SEC) gave its approval to spot Ethereum ETFs on May 23. However, the filers had to wait for a final approval before commencing trading. During this time, they have had to submit S-1 registrations, Form 8-A and even the S-1 amendments. In most of their recent filings, the management fee for their individual spot Ethereum ETFs were added.
Franklin Templeton settled with 0.19%, Bitwise with 0.20% and BlackRock 0.25% with a potential to waive all or a portion of the fee for a certain period. VanEck announced a decision to waive the ETF fees for an unspecified time till 2025, or until the assets hit $1.5 billion, depending on which happens first.
Market advantage for issuer with fee waiver
Explicitly, the spot Ethereum ETF filers that plan to waive their fees may gain market advantage ahead of the others, even with their low fees. This is because investors are more likely to be attracted to offerings that cost them less. By this analysis, Grayscale stands at a greater disadvantage with its management fee capped at 2.5%.
Alex DovbnyaMeanwhile, the CBOE update suggests the end of the long wait for spot Ethereum ETFs and it could be the beginning for other crypto ETFs. Talks are already ongoing about the possibility of Solana ETFs. For all we know, the SEC might just concede to it.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya