The SEC is Set to Approve Ether Futures ETFs
The United States Securities Commission (SEC) is reportedly ready to approve the first exchange-traded funds (ETFs) based on Ether (ETH) futures. This news is a significant win for the crypto industry, as nearly a dozen companies have expressed interest in launching these ETFs and have filed applications with the SEC.
Main Points:
- The SEC will not block or oppose ETF products based on Ether futures.
- Companies such as Bitwise, Roundhill, ProShares, and Volatility Shares have filed applications with the SEC and are relieved by the regulator’s stance.
- Approvals for these ETFs could come as early as October, although the SEC has not yet commented on the matter.
- The SEC has previously blocked ETFs directly based on cryptocurrencies, but it has allowed trading in a fund involving Bitcoin futures contracts.
- The SEC is still pushing back against Bitcoin-based ETFs and is engaged in a standoff with the crypto industry.
Hot Take:
The SEC’s potential approval of Ether futures ETFs is a significant development for the crypto industry. It shows a changing stance from the regulator, which has previously been hesitant about allowing ETFs based on cryptocurrencies. This move could pave the way for further adoption and investment in the crypto space. However, the SEC’s ongoing resistance to Bitcoin-based ETFs indicates that there are still hurdles to overcome. Overall, this news brings hope for increased mainstream acceptance of cryptocurrencies and their derivatives.
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