Ethereum Jumps 11% After SEC Report Set to Approve Futures ETFs
U.S. Securities and Exchange Commission unlikely to block launch of Ethereum futures ETFs, sources say.
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The price of Ether (ETH) jumped about 11% to $1,700 following the announcement that the United States Securities and Exchange Commission is about to authorize the first traded funds exchange (ETF) based on Ether Futures.
According to an August 17 report from Bloomberg - which cites unnamed sources familiar with the matter - the regulator does not appear to want to block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, which filed for launch Ether (ETH) futures ETFs in recent weeks.
Break
SEC expected to greenlight ETH futures ETF
The start of something potentially massive here… pic.twitter.com/x9KtOpCqei
— Bankless (@BanklessHQ) August 17, 2023It remains unclear which ETF applications would be approved by the SEC; however, officials have indicated that several of the filings could be approved as early as October.
ETF analyst Eric Balchunas said he was not surprised by the SEC's decision to approve Ether futures ETFs, adding that the decision shows how the regulator's views on different products, such as a spot Bitcoin ETF, may change over time.
It doesn't surprise us, we said they would approve Ether Futures from the start of the run. Nice to validate. Now what does this mean for spot? Hard to say beyond that, it shows that their views/politics/tolerance...
U.S. Securities and Exchange Commission unlikely to block launch of Ethereum futures ETFs, sources say.
Latest news
Join us on social networks
The price of Ether (ETH) jumped about 11% to $1,700 following the announcement that the United States Securities and Exchange Commission is about to authorize the first traded funds exchange (ETF) based on Ether Futures.
According to an August 17 report from Bloomberg - which cites unnamed sources familiar with the matter - the regulator does not appear to want to block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, which filed for launch Ether (ETH) futures ETFs in recent weeks.
Break
SEC expected to greenlight ETH futures ETF
The start of something potentially massive here… pic.twitter.com/x9KtOpCqei
— Bankless (@BanklessHQ) August 17, 2023It remains unclear which ETF applications would be approved by the SEC; however, officials have indicated that several of the filings could be approved as early as October.
ETF analyst Eric Balchunas said he was not surprised by the SEC's decision to approve Ether futures ETFs, adding that the decision shows how the regulator's views on different products, such as a spot Bitcoin ETF, may change over time.
It doesn't surprise us, we said they would approve Ether Futures from the start of the run. Nice to validate. Now what does this mean for spot? Hard to say beyond that, it shows that their views/politics/tolerance...
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