Ethereum futures ETF trading could soon debute in the United States.
In the latest development for Ethereum futures, Bloomberg analysts suggest that the United States could see the launch of Ethereum futures exchange-traded funds (ETFs) as soon as next week.
On September 28th, Bloomberg Intelligence analyst James Seyffart hinted that the US Securities and Exchange Commission (SEC) might greenlight multiple Ethereum futures ETFs in the coming week.
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Seyffart made these comments while responding to Eric Balchunas, another ETF analyst at Bloomberg, who stated that he had heard the SEC is keen to "accelerate the launch of Ether futures ETFs."
Balchunas mentioned: "They want it off their plate before the shutdown," referring to the looming deadline for Congress to approve funding for the new fiscal year, which starts on October 1st. Failure to do so could result in a government shutdown affecting various federal agencies, including financial regulators.
There are currently 15 Ethereum futures ETF proposals from nine different issuers pending approval, as noted in a September 27th report from Bloomberg analysts. Companies in the lineup for Ethereum futures or hybrid ETF products include well-known names such as VanEck, Grayscale and Volatility Shares.
Interestingly, the analysts assessed a 90% likelihood that Ethereum futures ETFs would be launched this October. They also indicated that Valkyrie's Bitcoin futures product is set to be the first to include Ethereum exposure, starting October 3rd.
We expect pure Ethereum futures ETFs to start trading the following week thanks to Volatility Shares’ actions.
Back in August, reports had speculated about the possible approval of Ethereum futures ETFs in October, sparking an 11% surge in the price of Ethereum. However, as of the current writing, ETH prices have risen by only 1% and are hovering slightly above the $1,600 mark.
According to insights from Bloomberg analysts, the potential introduction of Ethereum futures ETFs in the United States could happen sooner than anticipated. While the SEC has not officially confirmed these developments, the window for action could narrow due to the possible government shutdown. As multiple issuers await approval, the unfolding landscape of Ethereum futures ETFs will be keenly watched.
