Categories: U.S. Regulation

Chicago Bank Options Exchange (Cboe) Confirms Trading Launch of 5 Spot Ethereum ETFs on July 23

Cboe, where many of the proposed Ethereum ETFs will trade, disclosed that they will begin trading 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 in a new issue notification. The notices are procedural ahead of product launches.

Firms looking to launch their spot Ethereum ETFs received the U.S. Securities and Exchange Commission’s approval of 19b-4 forms in May, but they still need their registration statements to become effective before launching. Bloomberg Senior ETF Analyst Eric Balchunas previously said that he heard firms would “request effectiveness” on Monday. Balchunas and other sources have also said they expect the ETFs to begin trading on July 23.

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 on the exchange for the first $1.5 billion.

ETF issuer 21Shares set a 0.21% fee, which will be waived for six months starting on the day the shares are listed or during the first $500 million, whichever comes first, according to its amended S-1 registration statement.

Terron Gold