Crypto News– The U.S. Securities and Exchange Commission (SEC) is reportedly poised to grant approval for exchange-traded funds (ETFs) linked to Ethereum futures in the upcoming months.
Ethereum Futures ETFs Poised for SEC Approval, Expected Go-Ahead by October
As reported by Bloomberg and attributed to undisclosed insiders, the regulatory body is expected to refrain from impeding the submissions of approximately twelve entities, including ProShares, Volatility Shares, Bitwise, and Valkyrie. These firms have recently lodged applications to introduce ETFs based on Ethereum futures. Such ETFs would mirror the performance of Ethereum futures traded on the Chicago Mercantile Exchange, providing exposure to the derivative rather than direct ownership of the underlying digital asset.
Although the specific ETF applications set for approval have not been explicitly disclosed, officials have reportedly indicated that certain filings may secure endorsement as early as October. Decrypt’s inquiry to Valkyrie, ProShares, BitWise, Volatility Shares, and the SEC remained unanswered at the time of reporting.
In recent weeks, over a dozen applications for Ethereum futures ETFs have been submitted to the SEC. Leading the queue for a potential early launch, Valkyrie’s dual Bitcoin and Ether Strategy ETF, a proposed adaptation of the firm’s existing Valkyrie Bitcoin Strategy ETF, is expected to debut around October 3 or shortly thereafter.
Earlier this week, Valkyrie made its own filing for the Ethereum Strategy ETF; however, the premiere of the first ‘pure’ Ethereum futures ETF, sponsored by Volatility Shares, is anticipated to take place around October 11.
Eric Balchunas, an ETF analyst, has also weighed in on the matter, expressing little surprise at the SEC’s anticipated decision to greenlight Ethereum futures ETFs.
“This comes as no surprise to us; we had predicted the early approval of Ether Futures from the outset of the race. It’s gratifying to see our foresight vindicated. Now, as for its implications on the spot market, that remains uncertain—beyond the realization that their perspectives, policies, and tolerances can indeed evolve,” commented Balchunas.