Before the government shut down, the U.S. Securities and Exchange Commission (SEC) hastened the release of Exchange-Traded Funds (ETF).
The Exchange-Traded Funds (ETF) launch is being accelerated by the U.S. Securities and Exchange Commission (SEC) before a potential U.S. government shutdown. According to Bloomberg analysts, the Valkyrie Bitcoin and Ether ETF could go live next week if everything goes according to plan.
According to earlier estimates by Bloomberg analysts James Seyffart and Eric Balchunas, there is a 90% likelihood that the Ethereum Futures ETFs will debut in October 2023.
They also anticipated that on October 3, 2023, the Valkyrie Bitcoin futures ETF ($BTF) will become the first to hold exposure to Ethereum. Earlier, it was reported that Valkyrie submitted Form 497 with a proposal to transform BTF into a dual Exchange-Traded Fund for Bitcoin and Ether.
In a recent article, analyst Balchunas said that the US SEC wants to hasten the debut of the Ethereum futures ETFs in light of the likely U.S. government shutdown.
This may be an effort to complete the task before the shutdown if it occurs, renders the great bulk of the SEC employees inaccessible.
“Hearing the SEC wants to accelerate the launch of Ether futures ETFs (because they want it off their plate before shutdown) so they have asked the filers to update their documents by Friday afternoon.”
During the US House Financial Services Committee, stated during a hearing on the SEC’s oversight that the Commission might only be able to function with a minimal staff complement should the U.S. government shutdown go into effect.
Other Ethereum ETF Filings
As a result, the closure may cause the Volatility Shares Ethereum futures ETF launch, which was initially scheduled for October 11, to be postponed. Grayscale had once more applied to establish an Ethereum Futures ETF on September 20, 2023.
