According to analysts at Bloomberg, Ethereum futures exchange-traded funds (ETFs) may commence trading in the United States as early as next week, media reports said.
On September 28, James Seyffart, an analyst at Bloomberg Intelligence, suggested that the U.S. Securities and Exchange Commission (SEC) might allow several Ethereum futures ETFs to launch in the coming week.
Seyffart’s comments came in response to fellow ETF analyst Eric Balchunas, who had heard that the SEC was keen to expedite the introduction of Ether futures ETFs. Balchunas noted that the SEC appeared eager to clear this matter before a potential government shutdown, which was slated for October 1 at 12:01 am ET if Congress failed to reach an agreement on funding for the new fiscal year. Such a shutdown would likely affect various federal agencies, including financial regulators.
Neither analyst disclosed the sources of their information regarding this update on the numerous cryptocurrency ETFs currently awaiting approval. As of September 27, there were 15 Ether futures ETFs from nine different issuers awaiting regulatory approval, including firms like VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.
The analysts estimated a 90% probability that Ether futures ETFs would launch in October, with Valkyrie’s Bitcoin futures product anticipated to be the first to include exposure to Ether on October 3. They also mentioned that they anticipated pure Ethereum futures ETFs to begin trading the following week due to the actions of Volatility Shares. However, they cautioned that not all of the proposed ETFs might ultimately see the light of day.
