The SEC Has Approved Ethereum Futures Exchange-Traded Funds

Several businesses may get SEC approval to offer ETFs based on Ethereum Futures by the end of October, according to reports.

The first Ethereum Futures-based exchange-traded funds (ETF) may soon get clearance from the United States Securities and Exchange Commission (SEC).

The SEC has remained silent on the topic, but word has spread thanks to individuals in the know. A number of companies may be granted permission to create an Ether-Futures ETF by October, according to a story from the 17th of August, which cites reliable sources.

According to reports, the SEC is unlikely to cause any delays. Futures contracts for the second biggest cryptocurrency would form the basis of the proposed products, and the article claims that the regulator is unlikely to ban them.

It is yet unclear which businesses will be granted clearance. Due to the SEC’s lack of public announcement, the sources have only offered sketchy details.

Which investments will be approved was not known right away. One of the sources, who requested not to be named because they were sharing private information, said, “Officials have indicated that several might by October.”

According to a report from August 2nd, regulatory clearance for six Ether-Futures registrations is still waiting.

Grayscale Ethereum Futures ETF, VanEck’s Ethereum Strategy ETF, ProShares Short Ether Strategy ETF, and Ether Strategy ETF are among the funds that are lobbying for inclusion in the market.

The announcement comes as the development of Bitcoin ETFs has stalled. Several corporations are waiting expectantly for the SEC’s verdict on Bitcoin-related ETFs.

Ark Invest CEO Cathie Wood anticipates the SEC will not approve Bitcoin ETFs from individual companies. Ark Invest is waiting for a ruling on its proposed Bitcoin spot price ETF. She speculated that the SEC “is going to approve a Bitcoin ETF, will approve more than one at once.”

There were rumours on June 30 that numerous papers made by asset managers wanting to create a Bitcoin ETF did not satisfy the SEC due to a lack of clarity and detail. According to reports, the SEC found the materials to be lacking in being “clear and comprehensive.”

Also Read: Singapore Dismantles An Alleged $735 Million Crypto-Based Money Laundering Scheme