Key Points:
- There are currently 14 Ethereum futures ETF applications waiting for evaluation by the SEC, compared to 9 Bitcoin spot ETF applications.
- The SEC has shown a “readiness” to accept an Ether futures ETF, leading companies to refile their applications.
- The SEC’s messaging has been criticized as “schizophrenic” due to their denial of less risky crypto spot ETF products.
- Volatility Shares, a leveraged Bitcoin futures ETF company, filed for an Ether futures ETF and refused to withdraw the application, prompting the SEC to inform other applicants of their readiness to review proposals.
- Analysts predict a 75% likelihood of an Ether futures ETF being approved by the end of the year, higher than the likelihood assigned to a Bitcoin spot ETF.
Hot Take:
It seems that the SEC is finally warming up to the idea of approving ETFs for cryptocurrencies. With a wave of Bitcoin spot ETF applications, it’s interesting to see that there are even more applications for Ethereum futures ETFs. This shift in focus could indicate a growing recognition of the potential of altcoins like Ethereum. While the SEC’s messaging has been criticized for being inconsistent, the increasing number of applications and the likelihood of approval for an Ether futures ETF suggests a positive outlook for the crypto market. Investors and traders who are interested in cryptocurrencies should keep an eye on these developments, as they could have a significant impact on the market.
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