US Set to Welcome Ethereum Futures ETFs Trading Next Week, Bloomberg Analyst Predicts – Ethereum (ETH) futures exchange-traded funds (ETFs) are poised to commence trading in the United States as soon as next week, as predicted by analysts at Bloomberg. This development is expected to mark the inaugural trading of Ether futures ETFs in the country.
Bloomberg Intelligence analyst James Seyffart stated in a post on September 28th that the U.S. Securities and Exchange Commission (SEC) appears to be on the brink of approving several Ethereum futures ETFs for launch in the following week. He made this prediction in response to remarks by Eric Balchunas, a fellow ETF analyst, who indicated hearing that the SEC is keen on expediting the introduction of these financial products.
Balchunas noted that he had heard of various filings being updated by ETF issuers by Friday afternoon, in anticipation of initiating trading activities as early as the subsequent Tuesday. “They want it off their plate [before] the shutdown,” he stated.
This urgency is purportedly linked to the anticipated U.S. government shutdown scheduled for 12:01 am ET on October 1, contingent on Congress’s failure to secure funding for the new fiscal year. Such a shutdown would affect various federal agencies, including financial regulators.
As of a note on September 27, there are 15 Ether futures ETFs from nine different issuers awaiting the green light from regulatory authorities. The list of companies that have proposed Ether futures or hybrid ETF products encompasses notable names like VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.
According to the Bloomberg analysts, there is a 90% probability of Ether futures ETFs being launched in October. Valkyrie’s Bitcoin futures product is set to be the first of its kind to incorporate Ether exposure, with a launch date set for October 3. “We expect pure Ethereum futures ETFs to start trading the following week thanks to Volatility Shares’ actions,” the analysts noted, although they don’t anticipate all proposed ETFs to commence trading.
In August, it was reported that the approval of Ether futures ETFs might occur in October, leading to an 11% surge in ETH prices. As of the time of writing, ETH prices have experienced a modest 1% increase, hovering slightly above the $1,600 mark. While the introduction of crypto futures products is noteworthy, they have not garnered as much anticipation as their spot-based counterparts. It is worth noting that Bitcoin futures ETFs have been available in the U.S. market since 2021.