According to Bloomberg analyst James Seyffart, the US SEC appears ready to approve the launch of Ethereum futures exchange-traded funds as early as next Tuesday.
SEC Could Approve First Ethereum Futures ETFs Next Week
According to Bloomberg analyst James Seyffart, the US SEC appears ready to approve the launch of Ethereum futures exchange-traded funds as early as next Tuesday. He believes the regulator wants to move these products forward before a potential government shutdown at the start of October.
The US government is expected to shut down at 12:01 a.m. ET on October 1, if Congress fails to agree on or supply financing for the new fiscal year.
The 9 issuers proposing to launch Ether futures ETFs awaiting approval may update documents by Friday to enable trading the following week. This could see Valkyrie's Bitcoin futures ETF begin holding ETH exposure on October 3rd, followed by other issuers like VanEck, ProShares and Grayscale.
While not as highly anticipated as Bitcoin spot ETFs, these products would still offer the first indirect exposure to Ether in the US. The SEC recently delayed ARK’s spot Bitcoin ETF application to the final deadline on Jan. 10, 2024.
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