"Ethereum Skyrockets 11% on News of Potential SEC Approval for Futures ETFs"

"Ethereum Skyrockets 11% on News of Potential SEC Approval for Futures ETFs"

The United States Securities and Exchange Commission (SEC) is unlikely to prevent the introduction of Ethereum futures Exchange-Traded Funds (ETFs), according to undisclosed sources. This development caused the price of Ether (ETH) to rise by approximately 11%, reaching $1,700. The SEC is reportedly not planning to reject the applications of around twelve companies, including ProShares, Volatility Shares, Bitwise, and Roundhill, which have all recently applied to launch Ether futures ETFs. While it is not clear which of these ETF applications will receive approval from the SEC, officials suggest that some of them might be granted approval by as early as October.

 

 

ETF analyst Eric Balchunas expressed little surprise at the SEC's decision to approve Ether futures ETFs. He mentioned that this decision highlights how the SEC's perspectives on various products, such as a Bitcoin ETF, can evolve over time. The SEC has received numerous applications for Ether futures ETFs, with over 12 submissions for such products sent to the regulator since late July. The announcement of the potential approval boosted the price of ETH by 11% to $1,717 within 20 minutes, reversing a previous market decline that occurred two hours earlier.

 

 

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