It seems the regulators in the United States are soon going to approve Ether (ETH) futures Exchange Traded Funds (ETFs). According to media reports, the US Securities and Exchange Commission (SEC) is “poised” to allow the first Ether futures ETF.
Several companies, including ProShares, Volatility Shares, Roundhill, and Bitwise, have filed to launch their ETFs. According to the source, the regulators are unlikely to block Ether Futures ETF applications, and several might receive approval by October.
In October 2021, the first bitcoin futures ETF (BITO) was approved, and it started trading on the Chicago Mercantile Exchange. Launched by ProShares, BITO saw nearly $1 billion in trading volume on its first day. Since then, several Bitcoin futures ETF products have been approved. However, the regulators have not permitted an Ether futures ETF.
Now, that seems likely to be changing.
At the time of writing, Bitcoin’s market cap is $509 billion, while that of Ether is $202.64 billion.
However, what is most eagerly awaited in the crypto market is a bitcoin spot ETF that the SEC has steadfastly denied so far. Several companies, including BlackRock, have filed for a Bitcoin spot ETF. The SEC is also facing a lawsuit by Grayscale Investments that has challenged the SEC’s rejection of its application to convert its BTC trust into an ETF.