Ethereum futures ETF might launch subsequent week amid looming US authorities shutdown

The U.S. Securities and Trade Fee might approve an Ethereum (ETH) futures exchange-traded fund (ETF) as early as subsequent week, per Bloomberg analysts.

In a Sept. 28 put up on X(previously Twitter), Eric Balchunas, a senior ETF analyst for Bloomberg, mentioned the monetary regulator “desires to speed up the launch of Ether futures ETFs” earlier than a possible authorities shutdown. This assertion is approaching the heels of a be aware to traders that pegged the chances of an ETH Futures approval in October at 90%.

Balchunas added that a number of filers have been requested to replace their paperwork by Friday afternoon to allow them to begin buying and selling by subsequent week, Tuesday, Oct. 3.

Fellow Bloomberg analyst James Seyffart corroborated the likelihood in a separate put up. He wrote:

“Trying just like the SEC is gonna let a bunch Ethereum futures ETFs go subsequent week doubtlessly.”

Neither of the 2 reporters cited their sources, however there’s a looming risk of a U.S. authorities shutdown by Oct. 1 if Congress doesn’t agree on spending subsequent fiscal yr.

The SEC has 15 purposes for Ethereum futures ETFs submitted by 9 totally different issuers, together with VanEck, BitWise, ProShares, Grayscale, and others. The Bloomberg analysts posit that Valkyrie’s Bitcoin Futures ETF may very well be the primary ETF to have an Ethereum publicity by Oct. 3.

Following this improvement, the worth of ETH has surged by 1.7%, reclaiming a worth above $1,600, in keeping with starcrypto’s knowledge. This comes after the asset slipped beneath this threshold on Sept. 22 and remained there till right this moment’s restoration.

Alternatively, traders anticipating a Bitcoin (BTC) spot ETF might want to exhibit persistence. The SEC has not proven intentions of approval on this entrance as of now.

Nevertheless, some lawmakers are urging the SEC to greenlight a Bitcoin spot ETF. Home Representatives Mike Flood, Tom Emmer, Ritchie Torres, and Wiley Nickel have penned a letter to the SEC referencing the Grayscale case.

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