Cboe Launches Spot Ethereum ETF

Bittime - Cboe (Chicago Board Options Exchange) also enlivened the market Ethereum Exchange-Traded Funds (ETFs). This is good news for crypto enthusiasts, especially Ethereum, who want to invest in a more practical and familiar way.

Cboe Ethereum ETF Follows Other Products

The Chicago Board Options Exchange (Cboe) is scheduled to launch several Ethereum ETFs starting July 23. This investment product, which is still awaiting final regulatory approval. 

Produk ETF Ethereum ini menyusul Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, dan 21Shares Core Ethereum ETF.

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Each of these ETFs will track Ethereum price movements live. In other words, Ethereum's performance will be reflected in the price of the ETF. 

This will certainly attract the attention of many investors, especially those who are not familiar with the ins and outs of direct crypto transactions.

Ethereum ETF Will Be Approved on July 22, 2024

Bloomberg ETF analyst Eric Balchunas estimates that the United States Securities and Exchange Commission (SEC) will approve the launch of this ETF no later than July 22. 

This means that initial trading is scheduled to begin the day after, on July 23. The ETF issuers themselves updated their S-1 forms on July 18, which include details of sponsorship fees and additional information. 

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For example, VanEck offers a one-year fee waiver for initial assets up to $1.5 billion (around Rp. 24.3 trillion), while 21Shares waives their 0.21% fee until the asset value reaches $500 million (around Rp. 8.1 trillion). or for six months, whichever comes first.

Industry experts see that the performance of this Ethereum ETF has the potential to influence the crypto market as a whole. This also paves the way for other crypto ETFs in the future. 

Danny Chong, co-founder of Tranchess, believes that this flow of funds into ETFs could have a significant impact on Ethereum. Ethereum's growing ecosystem and utility are expected to push its price beyond $5,000 (around IDR 81 million).

The launch of the Ethereum ETF was certainly greeted with enthusiasm. Its success could be a driver of wider crypto acceptance. 

In addition, this has the potential to pave the way for other digital investment products, such as the Solana ETF, whose presence is already being anticipated. Thus, the integration of crypto into the traditional financial framework is becoming increasingly visible. Let's look forward to these exciting developments in the future!

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.