Bloomberg analysts predict that Ether futures exchange-traded funds (ETFs) could begin trading in the United States early next week.
James Seyffart, a Bloomberg Intelligence analyst, stated in an X post on September 28 that “looking like the SEC is gonna let a bunch of Ethereum futures ETFs go next week potentially.”
His remarks responded to fellow ETF analyst Eric Balchunas, who stated that the U.S. Securities and Exchange Commission wished to “accelerate the launch of Ether futures ETFs.”
“They want it off their plate [before] the shutdown,” he said, adding that the various filers are updating their documents by Friday afternoon to begin trading as early as Tuesday of next week.
Looking like the SEC is gonna let a bunch #Ethereum futures ETFs go next week potentially https://t.co/YoBD1d1ay8
— James Seyffart (@JSeyff) September 28, 2023The U.S. government is expected to close down at 12:01 a.m. ET on October 1 if Congress fails to agree on or provide funding for the new fiscal year, which is expected to impact the nation’s financial regulators and other federal agencies. They should have specified their sources for this most recent update to the extensive inventory of cryptocurrency ETFs in the queue.
According to a note published by analysts on September 27, 15 Ether futures ETFs from nine issuers are awaiting approval. VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill are among the firms offering an Ether futures or hybrid ETF product.
The analysts gave Ether futures ETFs a 90% chance of launching in October, with Valkyrie’s Bitcoin ETF having a 90% chance of launching in November. On October 3, a futures product is expected to become the first to offer Ether exposure.
“We expect pure Ethereum futures ETFs to start trading the following week thanks to Volatility Shares’ actions.”
However; “we don’t expect all of them to launch,” analysts stated.
In August, Coinscreed reported that Ether futures ETFs could be authorized in October, resulting in an 11% increase in ETH prices. At the time of writing, ETH prices have only increased by 1% on the day and are hovering just above $1,600.
In contrast to their spot-based counterparts, crypto futures products are not as eagerly anticipated. In the United States, Bitcoin futures ETFs have existed since 2021.
