US Could See Debut of Ethereum Futures ETFs as Early as Next Week, Predict Bloomberg Analysts
Summary:
Bloomberg analysts have predicted the possibility of Ethereum futures exchange-traded funds (ETFs) trading in the U.S. as early as next week. The move is apparently prompted by the Securities and Exchange Commission's intention to fast-track the launch of Ether futures ETFs before a potential government shutdown. There are currently 15 Ethereum futures ETFs awaiting authorization, with Valkyrie's Bitcoin futures product likely being the first to include Ethereum exposure. However, not all pending ETFs are expected to launch.
Bloomberg analysts predict that Ethereum futures exchange-traded funds (ETFs) may commence trading for the first time on U.S. soil as early as the following week. James Seyffart, an analyst at Bloomberg Intelligence, shared on September 28 that the SEC appears ready to authorize several Ethereum futures ETFs, potentially bringing this to reality next week. Seyffart's revelation comes after ETF analyst Eric Balchunas indicated that the SEC was aiming for a speedy launch of Ether futures ETFs. According to him, the SEC is eager to finalize this before the government shutdown and has requested various applicants to update their documentation by Friday afternoon for a potential trading commencement as early as the coming Tuesday.
If Congress fails to reach a consensus or provide funding for the new fiscal year, it is anticipated that the U.S. government will shut down at 12:01 am ET on October 1. This is expected to influence financial regulators and other federal agencies. No specific sources were mentioned for this latest information on the long lineup of crypto ETFs in the pipeline. As of September 27, the analysts reported that there are around 15 Ethereum futures ETFs from nine issuers currently pending approval.
The analysts foresee a 90% likelihood of Ethereum futures ETFs being launched in October, with Valkyrie’s Bitcoin futures product (BTF) likely to become the inaugural one to include Ethereum exposure on October 3rd. They anticipate that actual Ethereum futures ETFs will begin trading the subsequent week due to the efforts of Volatility Shares. Nevertheless, they caution that not all of them are expected to launch.
Published At
9/28/2023 2:27:13 AM
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