Ethereum

Bitcoin

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The US Securities and Exchange Commission (SEC) is on course to greenlight the first-ever exchange-traded funds (ETFs) based on <a href="https://u.today/ethereum-etf-race-gains-steam-six-asset-managers-filed-with-sec" rel="noopener noreferrer nofollow">Ether (ETH) futures</a>. 
This decision marks a substantial victory for several financial firms that have been advocating for the introduction of these products for some time. 
The regulator is unlikely to obstruct the launch of these ETFs, which will be grounded in futures contracts of Ether, the world's second-largest cryptocurrency, Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-08-17/crypto-bulls-stoked-by-bitcoin-btc-etf-hype-shrug-off-ether-eth-fund-push" rel="noopener noreferrer nofollow">reports</a>.&nbsp; 
Prominent companies such as Volatility Shares, Bitwise, and others are among the nearly a dozen entities that have submitted applications to initiate these ETFs. 
Notably, Valkyrie is anticipated to be the first to introduce an ETF featuring Ether futures around Oct. 3 or Oct. 4, although it will encompass both Bitcoin and Ethereum. Meanwhile, Vol Shares is projected to debut the first exclusive Ether Futures ETF approximately on Oct. 12. 
The approval of an Ethereum futures ETF by the SEC carries broader implications for the crypto sector. As pointed out by crypto analyst Adam Cochran, this move inherently suggests that the SEC does not classify Ethereum as a security. 
He emphasized that this decision is a monumental win for <a href="https://u.today/something-scary-happening-on-ethereum-eth" rel="noopener noreferrer nofollow">Ethereum</a>, regardless of its initial sale method, its proof-of-stake mechanism, or its primary function and application.&nbsp; 
Crypto futures ETFs allow investors to speculate on the future price of cryptocurrencies through contracts, without owning the actual coins. In contrast, spot ETFs provide investors with direct exposure to the current market price of the cryptocurrency by holding the actual digital assets. 
The SEC approved several Bitcoin futures ETFs in October 2021, further fueling the bull run. However, the regulator is yet to greenlight a spot ETF.&nbsp;

Ether-Futures ETFs Receive SEC Approval in Major Crypto Milestone

U_Today

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