Ether futures exchange-traded funds (ETFs) could commence trading in the United States as early as next week, as reported by Bloomberg analysts. On September 28, Bloomberg Intelligence analyst James Seyffart stated, “It’s looking like the SEC is gonna let a bunch of Ethereum futures ETFs go next week potentially.”
This statement was in response to ETF analyst Eric Balchunas, who mentioned that he had heard the U.S. Securities and Exchange Commission (SEC) aimed to “accelerate the launch of Ether futures ETFs.” Balchunas added, “They want it off their plate [before] the shutdown,” referring to the impending government shutdown if Congress failed to provide funding for the new fiscal year, which could affect financial regulators.
There are currently 15 Ether futures ETFs from nine issuers awaiting approval, according to the analysts’ report from September 27. These companies include VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.
The analysts estimated a 90% chance of Ether futures ETFs launching in October, with Valkyrie’s Bitcoin futures product anticipated to hold Ether exposure starting on October 3. The analysts mentioned,
“We expect pure Ethereum futures ETFs to start trading the following week thanks to Volatility Shares’ actions.”
However, they noted that not all proposed ETFs were expected to launch. In August, it was reported that the approval of Ether futures ETFs might occur in October, which led to an 11% increase in ETH prices at that time. As of the current writing, ETH prices have seen a 1% gain for the day, hovering just above $1,600.
It’s worth noting that crypto futures products are not as highly anticipated as their spot-based counterparts, with Bitcoin futures ETFs already available in the U.S. since 2021.
Photo by David McBee
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