Ethereum Futures ETFs Expected to Be Approved by SEC
Bloomberg reports that the Securities and Exchange Commission (SEC) is likely to approve the first exchange-traded funds (ETFs) based on Ethereum futures. While this may allow institutional investors to short the asset, it is seen as a significant win for the crypto industry. The SEC has been critical of the industry in recent years, but the approval of futures-based Bitcoin funds has shown some progress. Several firms, including Volatility Shares, Bitwise, Roundhill, VanEck, Valkyrie, and ProShares, have filed to launch Ethereum-based ETFs.
Key Points:
- The SEC is expected to approve the first Ethereum futures ETFs, allowing institutional investors to short the asset.
- This is seen as a major win for the crypto industry, which has faced scrutiny from the SEC.
- Several firms, including Volatility Shares and VanEck, have filed to launch Ethereum-based ETFs.
- The SEC has previously blocked spot-based crypto ETFs but approved futures-based Bitcoin funds.
- ETF expert James Seyffart has shared a list of current ETF applications pending approval.
Hot Take:
The potential approval of Ethereum futures ETFs by the SEC is a significant development for the crypto industry. While it may allow shorting of the asset, it shows progress in the acceptance of cryptocurrencies by regulatory bodies. This news has already had an impact on the price of Ethereum, which experienced a flash crash but has since recovered. Overall, this approval could pave the way for further adoption and investment in the crypto market.
By
By
By
By
By