Ether (eth) futures exchange-traded funds (ETFs) could begin trading for the first time in the United States next week, according to Bloomberg analysts.
On September 28, Bloomberg Intelligence analyst James Seyffart saying in an X post that “it looked like the SEC was going to potentially let go of a bunch of ethereum futures ETFs next week.”
His comments were in answer to fellow ETF analyst Eric Balchunas, who said he had heard that the US Securities and Exchange Commission wanted to “accelerate the launch of Ether futures ETFs.”
“They want to get it out of the way (before) the shutdown,” he said, adding that he heard several filers update their documents Friday afternoon so they can start trading as soon as Tuesday of next week.
It looks like the SEC is going to let a lot of ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum Futures ETFs potentially coming out next week https://t.co/YoBD1d1ay8
-James Seyffart (@JSeyff) September 28, 2023
The US government is expected to shut down at 12:01 a.m. ET on October 1 if Congress fails to reach a deal or provide funding for the new fiscal year, which is expected to impact financial regulators. of the country, among other federal agencies.
Neither specified their sources for this latest update to the long list of crypto ETFs in the queue.
There are currently 15 Ether futures ETFs from nine issuers awaiting approval, according to the analysts in a September 27 note.
Companies proposing an Ether futures or hybrid ETF product include VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion and Roundhill.
Analysts gave Ether futures ETFs a 90% chance of launching in October, and Valkyrie’s bitcoin (btc) futures product is set to become the first to hold exposure to Ether on October 3.
“We expect pure ethereum futures ETFs to begin trading next week thanks to Volatility Shares.”
However, “we don’t expect everyone to jump in,” analysts said.
Related: Ether ETF Filings Flood SEC as ProShares Files 11th
In August, Cointelegraph reported that Ether futures ETFs could be approved in October, leading to an 11% rise in eth prices at that time. eth prices have only gained 1% on the day and are hovering just over $1,600 at the time of writing.
However, crypto futures products are not as hotly anticipated as their spot alternatives. bitcoin futures ETFs already exist in the US since 2021.
Magazine: DeFi Dad, Hall of Flame: ethereum is ‘woefully undervalued’ but getting more powerful
