US Gears Up for Potential Ethereum Futures ETFs Launch

As per insights from Bloomberg analysts, Ethereum futures exchange-traded funds (ETFs) might make their debut in the US market soon—possibly within the coming week.

James Seyffart, an analyst at Bloomberg Intelligence, remarked on September 28, "It appears the SEC might greenlight several Ethereum futures ETFs, perhaps even next week." This reaction followed fellow ETF specialist Eric Balchunas' observation about a perceived rush by the SEC to expedite the Ethereum futures ETFs launch. Balchunas mentioned, "The goal is to finalize it before the looming shutdown."

UPDATE: Hearing the SEC wants to accelerate the launch of Ether futures ETFs (bc they want it off their plate bf shutdown) so they've asked the filers to update their docs by Fri pm (no small task to jam into 48hrs, esp for indie issuers), so they can go eff Mon and trade Tue. https://t.co/gKyQFK12aM
— Eric Balchunas (@EricBalchunas) September 28, 2023

If Congress doesn't finalize or consent to the budget for the forthcoming fiscal year, the US government might shut down at 12:01 am ET on October 1. This move could affect several federal entities, including financial oversight bodies.

The specifics about the source of these updates on the extensive list of awaited crypto ETFs remain undisclosed.

As recorded in a September 27 note, nine issuers have 15 Ethereum futures ETFs in line for validation. Some of the companies in the race to present an Ethereum futures or mixed ETF solution include VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.

In their assessment, the experts granted a 90% likelihood for Ethereum futures ETFs to launch in October. They identified Valkyrie’s Bitcoin futures offering, which is slated to be the inaugural product to include Ethereum, to possibly launch on October 3. The statement read, "Owing to the steps by Volatility Shares, we're forecasting the initiation of pure Ethereum futures ETFs the subsequent week."

But the analysts added a caveat, mentioning, "It's improbable for all to see the light of day."

Back in August, news channels proposed the possibility of Ethereum futures ETFs getting the nod in October, which triggered an 11% surge in Ethereum's value. As of now, Ethereum's price has seen a modest 1% upswing, hovering slightly above $1,600. While ETH futures ETFs would be groundbreaking, spot ETFs (which transmit demand directly to the underlying market, due to the requirement that they actually hold crypto) remain the holy grail for the crypto community. The US has already witnessed the introduction of Bitcoin futures ETFs since 2021.

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