Ethereum futures ETFs possibly launching next week, Bloomberg

Bloomberg Intelligence market analysts suggest that the upcoming U.S. government shutdown could expedite the introduction of Ethereum futures exchange-traded funds (ETFs) in the United States. The trading of these ETFs may potentially commence within a week’s time.

Bloomberg analyst James Seyffart has indicated that the U.S. Securities and Exchange Commission (SEC) seems prepared to allow a multitude of Ethereum futures ETFs to launch in the upcoming week. Seyffart addressed the situation, mentioning that it appears likely that the SEC will approve several Ethereum futures ETFs for release next week.

ETF analyst Eric Balchunas recently revealed the SEC’s efforts to expedite Ether futures ETF introduction. They aim to fast-track proceedings amid the looming government shutdown. Filers have been instructed to update their documents by Friday in preparation for potential Tuesday trading.

The U.S. government is expected to face a shutdown, commencing at 12:01 am ET on Oct. 1. Furthermore, unless the Congress can come to an agreement or secure funding for the upcoming fiscal year. This development will have repercussions on various federal agencies, including financial regulators.

As of a September 27 report, analysts have detailed that there are currently 15 Ethereum futures ETFs from nine different issuers awaiting regulatory approval. Notable companies proposing Ethereum futures or hybrid ETF products include VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.

Ethereum Futures ETFs: October Launch Boosts Market Sentiment

According to analysts at Bloomberg Intelligence, there is a strong 90% chance of Ethereum futures ETFs being introduced in October. The leading pioneer in holding Ethereum exposure beginning on October 3 is Valkyrie’s Bitcoin futures product (BTF).

In August, it was reported by Cointelegraph that Ethereum futures ETFs might gain approval in October. This news caused a significant 11% increase in ETH prices. However, as of the latest update, ETH prices have only experienced a moderate 1% gain for the day, remaining just above the $1,600 mark.

Furthermore, while the market is eagerly anticipating Ethereum futures ETFs, their excitement doesn’t match the enthusiasm surrounding spot-based counterparts. Moreover, it’s noteworthy that Bitcoin futures ETFs have already made waves in the U.S. crypto ETF industry since 2021.

The author’s views are for reference only and shall not constitute investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing