Ether futures exchange-traded funds (ETFs) are on the brink of debuting in the United States, potentially commencing trading as early as next week, as Bloomberg analysts have recently suggested.
On September 28, James Seyffart, an analyst from Bloomberg Intelligence, hinted at the possibility of the U.S. Securities and Exchange Commission (SEC) greenlighting a slew of Ethereum futures ETFs, stating that “it’s looking like the SEC is gonna let a bunch of Ethereum futures ETFs go next week potentially.”
This development comes on the heels of statements made by Eric Balchunas, a fellow ETF analyst, who suggested that the SEC is inclined to expedite the launch of Ether futures ETFs and clear its regulatory pipeline before a looming government shutdown, set to occur if Congress fails to agree on fiscal year funding by October 1.
Currently, there are 15 Ether futures ETFs from nine different issuers awaiting approval by the SEC, including prominent names like VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.
Bloomberg analysts, assessing the situation, have given Ether futures ETFs a 90% probability of launching in October, with Valkyrie’s Bitcoin futures product anticipated to be the first to offer Ether exposure starting on October 3.
READ MORE: ‘BitBoy’ Arrested During Livestream Outside Former Associate’s Home Over Lamborghini Dispute
However, the analysts also caution that not all of the proposed ETFs may see the light of day.
This development follows earlier reports in August that speculated on the approval of Ether futures ETFs in October, resulting in an 11% surge in ETH prices at the time.
As of the time of writing, ETH prices have witnessed a more modest 1% increase, hovering just above $1,600.
It’s worth noting that while the anticipation surrounding crypto futures products is palpable, they do not generate the same level of excitement as their spot-based counterparts.
The U.S. has already seen the introduction of Bitcoin futures ETFs since 2021, solidifying the presence of crypto-based financial instruments in the traditional financial landscape.
Other Stories:
Judge Allows Evidence of Political Donations in Sam Bankman-Fried’s Fraud Trial
Binance and Mitsubishi UFJ Trust Collaborate on Japanese Stablecoin Initiative
EOS Is Becoming a Climate Positive Network That Will Offset Its Energy Consumption by 3x
