US SEC Expected to Approve First Ethereum Futures ETF

US SEC is expected to approve the first Ethereum futures ETF in early October, paving the way for further crypto investment options. Industry experts remain hopeful despite a potential government shutdown.

Posted 8 months ago in Ethereum


Image of a US Securities and Exchange Commission logo alongside an Ethereum logo

Industry experts and analysts are confident that the US Securities and Exchange Commission will approve an Ethereum futures product in early October. If they’re right, it will be the first ETH futures ETF to be launched in the United States. Exchange-traded fund analysts are eyeing signals that an Ethereum-based product could get the green light early next week.

Ethereum ETFs Before Shutdown? Bloomberg intelligence analyst James Seyffart said he was “watching for filings to indicate Ethereum futures ETFs are being accelerated for launch next week,” on September 28. “We expect more filings from the SEC today as they continue to clear their desks as much as possible before the shutdown. Normalcy is out the window.”

Unless Congress can reach a deal to pass a spending bill by the end of this month, the US government faces a shutdown . This will impact all federal agencies, including the SEC.

ETF Store President Nate Geraci commented that if the SEC is allowing Ethereum futures ETFs to launch: “You have to assume forcing closure/delisting of BTC futures ETFs is off the table.” He added that he was fascinated to see the SEC’s response to the Grayscale court ruling. “Seems like the only options are to allow spot BTC ETFs or find another reason to deny custody”.

Earlier this week, fellow Bloomberg analyst Eric Balchunas said there was a 90% chance that Ether futures would start rolling out in early October. According to the pair, there are 15 Ethereum futures ETFs from nine issuers currently awaiting approval. Issuers waiting for ETH or hybrid ETF products include Valkyrie, VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.

However, it has been business as usual at the SEC this week. The regulator has been busy postponing crypto ETFs and procrastinating on decisions. On September 28, the regulator extended the review period for BlackRock, Valkyrie, and Bitwise’s spot Bitcoin ETF applications. The remaining issuers are WisdomTree, VanEck, and Fidelity.

Earlier this week, the SEC delayed its decision on the ARK 21Shares Ethereum ETF and the VanEck Ethereum ETF until the end of 2023. Seyffart concluded, “Everything the SEC has done this week is due to the shutdown.”

Last updated 9/29/2023, 12:04:20 AM

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