Ethereum

Bitcoin

<ul class="list-ic vertical"> 
 <li> 1 <a>The U.S. government agency has reportedly been close to approving Ethereum Futures-based ETFs.</a> </li> 
 <li> 2 <a>According to a report, several firms will possibly approve Ethereum Futures-based ETFs by October of this year.</a> </li> 
</ul> 
The U.S. Securities and Exchange Commission (SEC), a government agency, is almost on its way to approving the first Ethereum Futures-based exchange-traded funds or ETFs, reportedly. Whereas specific funds to be approved stays uncertain, while a dozen companies await the green light. 
Notably, this development comes in between the anticipation for the SEC’s decision on many spot price Bitcoin ETFs. However, the U.S. government agency did not make any comment, while those familiar with the matter shared about the same. 
<h2 class="wp-block-heading" id="strong-multiple-reports-about-ethereum-etf-strong">Multiple Reports About Ethereum ETF&nbsp;</h2> 
According to a report of August 17, 2023, shared by familiar sources, “several firms could receive approval to launch an Ether-Futures ETF by October. Although, the SEC is reportedly not likely to hinder the process in any way.” 
According to the report, “the regulator isn’t likely to block the products, which would be based on futures contracts for the second-largest cryptocurrency, according to people familiar with the matter.” It is still not clear which firms will receive the approval. 
The sources have provided limited information whereas the SEC has not announced it yet. “It couldn’t immediately be determined which funds would get green lights. Officials have indicated that several may by October, said one of the people, who asked not to be identified discussing information that hasn’t been made public.” 
According to a report on August 2, 2023, regulatory approval is pending for six Ether-Futures filings. Whereas the firms seeking approval include “Ether Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, ProShares Short Ether Strategy ETF, and the Grayscale Ethereum Futures ETF.” 
<h3 class="wp-block-heading" id="strong-another-etf-decision-is-waiting-strong">Another ETF Decision is Waiting</h3> 
The following ETF news comes in between a standstill with <a href="https://www.thecoinrepublic.com/2023/08/07/bitcoin-betting-battle-the-winner-will-get-1-million-sats/" rel="noopener noreferrer nofollow">Bitcoin </a>ETFs. Many firms are eagerly waiting for a response from the SEC, regarding the decision on ETFs directly linked to Bitcoin. 
The CEO of Ark Invest, Cathie Wood, thinks that the SEC will not grant approvals for firms’ Bitcoin ETFs individually. It must be noted that Wood’s Ark Invest is currently awaiting a decision on its own spot price <a href="https://www.thecoinrepublic.com/2023/08/16/europe-launches-the-first-spot-bitcoin-etf-on-euronext-amsterdam/" rel="noopener noreferrer nofollow">Bitcoin ETF</a>. As she opined that “If the SEC is going to approve a Bitcoin ETF, will approve more than one at once.”&nbsp; 
A report released in late June 2023 further pointed out that the SEC was not satisfied with the transparency and information presented in several filings submitted by asset managers seeking to launch a Bitcoin ETF. The government agency reportedly declared that the documents were not “clear and comprehensive.” 
Last but not least, according to CoinMarketCap, at press time, Ethereum is trading at $1,680.54 with a 24-hour trading volume of $16.33 Million. Ethereum is down 5.97% in the last 24 hours with a current market cap of $201.75 Billion.

SEC has Reportedly Approves Ethereum Futures ETFs; Find Details

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Thecoinrepublic.com

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