The US Securities and Exchange Commission could approve an ethereum (eth) futures exchange-traded fund (ETF) next week, according to Bloomberg analysts.
On September 28 mail On This statement comes on the heels of a note to investors that put the odds of an eth Futures approval in October at 90%.
Balchunas added that several taxpayers were asked to update their documents by Friday afternoon in order to begin trading next week, Tuesday, October 3.
Bloomberg analyst James Seyffart corroborated the possibility in a separate post. He wrote:
“It looks like the SEC is going to let a lot of ethereum The futures ETFs will potentially come out next week.”
Neither journalist cited their sources, but there is an imminent threat of a US government shutdown before October 1 if Congress does not agree on spending for the next fiscal year.
The SEC has 15 applications for ethereum futures ETFs filed by nine different issuers, including VanEck, BitWise, ProShares, Grayscale and others. Bloomberg analysts posit that Valkyrie’s bitcoin Futures ETF could be the first ETF to have exposure to ethereum before October 3.
Following this development, the price of eth has increased by 1.7%, recovering a value above $1,600, according to CryptoSlate data. This comes after the asset fell below this threshold on September 22 and remained there until today’s recovery.
On the other hand, investors anticipating a bitcoin (btc) spot ETF will need to be patient. The SEC has shown no intention of approval on this front so far.
However, some lawmakers are urging the SEC to give the green light to a bitcoin spot ETF. House Representatives Mike Flood, Tom Emmer, Ritchie Torres and Wiley Nickel wrote a letter to the SEC referencing the Grayscale case.
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