fxs_header_sponsor_anchor

Ethereum Futures ETF to roll out by first week of October: Bloomberg ETF analyst

  • Ethereum Futures ETFs are likely to be available for trading as early as October 3, per Eric Balchunas.
  • The Bloomberg analyst cited SEC wanting to "getting it off their plate" as the reason for the accelerated approval.
  • All applicants have been asked to update their filings before the weekend in order to be approved by October 2.

While spot Bitcoin Exchange Traded Funds (ETFs) approval has been a matter of controversy in the United States, Ethereum Futures ETFs' might not be. The Securities and Exchange Commission (SEC), which has been targetting spot BTC ETFs for months now, is most likely to approve the trading of ETH ETFs in the next seven days.

Read more - Breaking: Ark Invest 21Shares Bitcoin Spot ETF filing delayed

Ethereum Futures ETF to begin trading in October

According to Bloomberg Senior ETF analyst Eric Balchunas, the SEC is likely to go easy on Ethereum Futures ETFs and fastrack their approval. Balchunas took to X, formerly Twitter, to share the update highlighting that the ETH ETFs are most probably going to be approved by October 2, Monday and available for trading for investors by the next day - October 3, Tuesday.

Balchunas stated that the SEC wants to accelerate the launch of the ETH ETFs only in order to get them off their plate. This is surprising since when it comes to Bitcoin spot ETFs, the SEC has been attempting to hold out their approval for as long as they can.

In order to be approved, though, ETH ETFs' applicants have been asked to update their filings before the end of Friday. If everything goes as planned and the SEC swiftly approves the applications, Valkyrie's BTF will become the first Ethereum Futures ETF to be launched in the United States. This could be followed by other ETFs since over nine issuers have proposed 15 ETH ETFs in the country.

Spot Bitcoin ETF continues to be a headache

Even though the Ethereum Futures ETFs' approval has been accelerated, the SEC is not likely to change its stance on spot Bitcoin ETFs. This is because, in just the last couple of days, the SEC has delayed the decision on another spot BTC ETF application from Ark Invest 21Shares.

This was in spite of the US House Financial Services Committee (FSC) asking the regulatory body to immediately approve the spot BTC ETFs in a letter this week. The lawmakers called the SEC's standards of denial of spot ETFs "inconsistent and discriminatory" and urged to fast-track the approval.

Read more - Members of US FSC urge SEC Chair Gensler to immediately approve spot Bitcoin ETFs


Like this article? Help us with some feedback by answering this survey:


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.