Ether Futures ETFs Imminent in U.S.
The crypto community is buzzing with excitement. Ether futures exchange-traded funds (ETFs) could start their journey in the American markets as soon as next week, based on insights from Bloomberg experts.
SEC Aims to Accelerate Ether ETFs Launch
Bloomberg Intelligence analyst, James Seyffart, sparked the discussion. On Sept. 28, Seyffart hinted at the possibility of the U.S. Securities and Exchange Commission (SEC) greenlighting several Ethereum futures ETFs in the coming week.
His statements were a response to fellow expert, Eric Balchunas, who opined that the SEC is eager to roll out these ETFs quickly, potentially due to the looming U.S. government shutdown.
Government Shutdown and Financial Markets
The expected U.S. government closure could begin at the dawn of October if Congress doesn’t finalize the budget for the upcoming fiscal year. This shutdown might significantly influence financial regulators and other pivotal federal departments.
Interestingly, the sources of these fresh revelations about crypto ETFs remain unspecified.
Several Ether ETFs Await Approval
Currently, the SEC’s desk is piled with applications. There are 15 Ether futures ETFs from nine distinctive issuers pending approval. Renowned firms such as VanEck, ProShares, Grayscale, and others have thrown their hats into the ring.
In their recent note on Sept. 27, analysts placed a hefty 90% probability on Ether futures ETFs seeing the light of day in October. They spotlighted Valkyrie’s Bitcoin futures product which is set to embrace Ether exposure shortly.
All Ether ETFs Might Not Launch Simultaneously
Despite the promising outlook, the analysts maintain caution. Not all Ether futures ETFs might commence their journey immediately. It’s also worth noting the crypto market’s temperament. While crypto futures are generating interest, they haven’t garnered as much enthusiasm as their spot-based counterparts. The U.S. has been acquainted with Bitcoin futures ETFs since 2021, setting a precedent for this new wave of Ethereum futures ETFs.
