U.S. Anticipates Approval of Ethereum (ETH) Futures Exchange-Traded Funds (ETFs)
The U.S. might introduce Ether futures ETFs soon, with experts predicting trading by next week.
Thu, 28 Sep 2023, 08:55 am UTC
The U.S. is poised to embrace Ether (ETH) futures exchange-traded funds, with indications suggesting they might be up for trading as soon as next week. This forecast comes from experts monitoring the financial markets, including insights from Bloomberg.
James Seyffart, a noted analyst from Bloomberg Intelligence, recently shared his perspective about the Securities and Exchange Commission's stance on these ETFs. His remarks, shared through a medium referred to as "X post," hinted that the SEC seems ready to greenlight several Ethereum futures ETFs in the forthcoming week.
This insight was echoed by Eric Balchunas, another ETF specialist. Balchunas shed light on the SEC's potential eagerness, pointing out the commission's inclination to "fast-track" the introduction of Ether futures ETFs. According to him, the regulatory body seems intent on settling this matter before any potential government shutdown. He also mentioned that there's chatter about the need for involved parties to finalize their paperwork by the week's end, setting the stage for possible trading by next Tuesday.
In a related development from August, speculations about the approval of Ether futures ETFs led to a notable 11% surge in ETH prices. In the current scenario, ETH's value has witnessed a modest rise of 1%, positioning its market price slightly above the $1,600 mark.
It's essential to note that while the introduction of Ether futures ETFs might sound new and exciting, the U.S. financial landscape is not entirely unfamiliar with such products. Since 2021, Bitcoin futures ETFs have been available for investors.
While the buzz grows around Ether futures ETFs, it stands in contrast to Bitcoin ETFs, which have caught the attention of major investment firms, including BlackRock and Ark Investment, indicating a diversified interest in the crypto investment space.
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