You can check the website statistics yourself or request them from us at [email protected]
On this platform, only organic high-quality traffic
Bitcoin
$ 30,725

US SEC Would Likely Let Ethereum Futures ETFs Go Live Next Week: Bloomberg Intelligence Analyst

Bloomberg analysts have indicated that Ethereum (ETH) futures exchange-traded funds (ETFs) might launch as soon as next week. This move is expected to precede a potential shutdown of the US Government.

James Seyffart, an intelligence analyst at Bloomberg, suggested that the US Securities and Exchange Commission (SEC) could potentially approve multiple Ethereum futures ETFs in the upcoming week.

Together with Eric Balchunas, another analyst, Seyffart stated that there’s a 90% likelihood of the Ethereum Futures ETFs being introduced in October 2023.

The analysts commented, “While the spot market remains uncertain, it’s highly probable (with 90% odds) that Ether futures ETFs will begin to be introduced in early October.”

Analysts forecasted that the Valkyrie Bitcoin futures ETF (BTF) is set to be the “first to incorporate Ethereum exposure on October 3, following a change in its strategy.” This pioneering step is likely to be succeeded by various direct Ether futures ETF contenders, said Balchunas, hinting at a competitive scenario by remarking, “It’s going to be quite the contest.”

Additionally, they projected that the debut ETF focused exclusively on Ethereum futures would be introduced by Volatility Shares. The launch is slated for October 12, following the anticipated approval of its application on October 11.

Nonetheless, the analysts emphasized that not every proposed Ethereum futures ETF will see the light of day. Valkyrie and Volatility Shares are just two among a total of 15 Ethereum ETF proposals that have been submitted by nine different entities.

The roster of companies submitting Ethereum ETF applications encompasses prominent names such as VanEck, ProShares, Grayscale, Bitwise, Direxion, and Roundhill.

Likely Before the US Govt. Shutdown

On September 28, Balchunas reported that the US SEC is eager to expedite the rollout of Ether futures ETFs, aiming to finalize it before any potential government halt.

He mentioned, “They [SEC] want it resolved before the shutdown,” highlighting the challenges that would arise once the shutdown begins, as a significant portion of the SEC’s workforce would become inaccessible.

Should Congress not approve the 12 necessary spending bills to sustain government agencies by midnight ET on October 1, a government shutdown will ensue. Given current circumstances, this outcome seems increasingly plausible.

Moreover, Balchunas conveyed that the regulatory body has requested several applicants to revise their filings by the end of this week. The intention behind this move is to ensure that the ETFs can be officially approved by the start of the upcoming week, allowing trading to commence by Tuesday.

Related Posts

Leave a Reply

Confirm now and stay with our news

What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

Latest Articles

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024By
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024By
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024By

Latest news

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024
Bitcoin Mining Firm CleanSpark Acquires GRIID in $155M Stock Deal
28.06.2024
Elastos Partners With BEVM to Launch Bitcoin P2P Loans, Targeting $1.3T in Dormant Value
28.06.2024
Coinbase Files Lawsuits Against SEC, FDIC Over FOIA Request
27.06.2024
UK Watchdog Boosts Crypto Division to 100 Staff Members
27.06.2024
Hong Kong Government Explores DeFi and Metaverse to Boost Fintech Dominance
27.06.2024
Spot Ether ETFs May Receive US Approval by July 4: Report
27.06.2024
Bitcoin ETFs See Inflows for Second Consecutive Day as BTC Holds Steady at $60K
27.06.2024