The SEC has approved all individual S-1 Ethereum ETF applications, with listings scheduled on the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE). However, the Hashdex Nasdaq Ethereum ETF, the most recent applicant, may receive approval at a later date.
Ethereum ETFs Set to Debut on Major Exchanges
CBOE will list the following spot Ethereum ETFs on Tuesday, July 23, 2024:
VanEck
Invesco
Fidelity
21Shares
Franklin Templeton
Additionally, the Grayscale Ethereum Trust (not an ETF) and the ProShares Ethereum ETF will be listed on NYSE’s Arca platform on the same day.
Impact of Recent Market Crashes
The recent downturn in the crypto market, which saw the total market cap drop from $2.65 trillion to $2.11 trillion, has made investors cautious. This caution has likely suppressed further investment in Ethereum, contributing to its modest price increase. However, as market confidence rebuilds, these hesitant investors are expected to re-enter the market.
Potential for an Alt Season
The Ethereum ETF launch has sparked speculation of an upcoming alt season, a period of widespread bullishness where altcoins experience significant price growth. Historically, alt seasons occur when Bitcoin’s market dominance decreases, allowing altcoins to capture a larger share of the overall crypto market cap.
As Ethereum ETFs begin trading, the crypto community will closely watch for signs of this anticipated market shift.
Featured image from: cointelegraph.com