It is believed that in October, SEC may approve the first Ether Futures ETFs.
The US Securities and Exchange Commission, the main US securities regulator, is reportedly on the verge of greenlighting the Ether (ETH) Futures exchange-traded funds (ETFs).
According to the August 17th Bloomberg report, which cited sources familiar with the matter, the SEC is allegedly not planning to block the road for over a dozen firms that filed for Ether Futures ETFs.
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Among these potential pioneers are notable names like ProShares, Volatility Shares, Bitwise, and Roundhill, all of whom have presented their intent to roll out Ether (ETH) futures ETFs in the past few weeks.
It's a game of anticipation now, with stakeholders keenly waiting to see which ETF applications will earn the SEC's stamp of approval. Official sources hint that a few approvals could be given as early as October.
Eric Balchunas, a reputed ETF analyst, took to X (formerly Twitter) to comment on the newest rumors, stating that the alleged move by the SEC comes as no surprise.
The SEC's desk has been flooded with Ether futures ETF applications. From late July onward, they've seen over 12 such filings, underscoring the market's appetite and belief in the potential of Ether futures.
This ETF buzz had an immediate impact on Ether's market behavior. ETH experienced an impressive 11% jump, landing at a price point of $1,717. However, the increase wasn't a long one. The Ether (ETH) experienced several hits, with its price now fluctuating around $1,690.
The crypto market's volatility is legendary, and any whiff of regulatory shifts can trigger significant price movements. Ethereum's recent surge is a testament to this. With the SEC possibly opening doors for Ether futures ETFs, it's not just a win for the applicants but also an affirmation of Ethereum's growing prominence in the financial ecosystem.
