By: Isha Das
United States may witness the launch of its first-ever Ethereum futures exchange-traded funds (ETFs) as early as next week, anticipate Bloomberg analysts. This development emerges following recent delays by the U.S. Securities and Exchange Commission (SEC) on Ethereum spot ETF applications from Ark Invest and VanEck.
The speculated expedited launch of the Ether futures ETFs is linked to the potential US government shutdown expected on October 1, 2023. As a remedy, Ethereum futures ETF applicants have reportedly been urged to update their applications to enable trading from October 3, 2023, according to Bloomberg ETF analyst, Eric Balchunas. Fellow analyst James Seyffart has seconded this anticipation.
Currently, as per the Bloomberg analysts, 15 Ethereum futures ETF applications await the approval of SEC from a variety of issuers. Based on their evaluation, they rate a 90% chance of Ethereum futures ETFs setting off in early October. Responding to this potential, Ethereum's value has risen by 1.7%.
Despite this positive rumor, investors seeking a Bitcoin spot ETF may have to wait longer as the SEC has shown no inclination towards approval in this area so far.
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