In a report by The Wall Street Journal, the United States Securities and Exchange Commission (SEC) is expected to approve several requests for Ether futures exchange-traded funds (ETFs) all together simultaneously.
SEC has not Asked for Withdrawal of Ether Futures ETFs
Based on WSJ publications, the confirmation that the regulatory body is not going to prevent the fund’s launch within the next few weeks is due to the fact that the SEC hasn’t asked firms that have already submitted requests for authorization to cancel their requests, unlike in 2021, when organizations were given directions to take out the same applications.
16 Applications have been filed with the SEC
It is noteworthy that a total of 16 registrations for Ether or Bitcoin-Ether futures ETFs have been submitted to the SEC.
The advantage of being the first is critical in the ETF industry. In accordance to the WSJ, citing Morningstar information, the very first futures Bitcoin ETF licenced by ProShares has grown to over $1 billion since it started trading in October 2021, while a similar item which was set up a few days later from Valkyrie, an investment asset management organization, encompasses just $28 million.
Valkyrie Filed for a Ether Futures ETF
TheCoinRise reported, Valkyrie Investment Management filed an application with the Securities and Exchange Commission (SEC) just days ago for the listing of an Ethereum (ETH) Futures Exchange Traded Fund (ETF).
Estimations and prominent experts have begun to speculate on the expected date of ETF clearance.
Approval of Bitcoin Spot ETF
Mike Novogratz, CEO of Galaxy Digital, a renowned crypto investing firm, has created excitement by claiming that the very first US Bitcoin Exchange Traded Fund (ETF) could be approved by February. The continuing dispute between Grayscale and the SEC, on the other hand, adds another factor of suspense regarding the timing for spot Bitcoin ETF approvals in the US. Depending on the court’s verdict, the crypto environment could see an increase in ETF approvals, pushing digital asset mainstream adoption closer than expected.