SEC May Approve Ethereum Futures ETFs Before US Government Shutdown!

  • Before a potential U.S. government shutdown, the U.S. Securities and Exchange Commission (SEC) appears to be expediting the process of launching Exchange-Traded Funds (ETFs).
  • Previously, Bloomberg analysts Eric Balchunas and James Seyffart reported a 90% probability of Ethereum Futures ETFs launching in October 2023.
  • Balchunas noted that the SEC in the U.S. might want to expedite the launch of Ethereum futures ETFs in the context of a possible U.S. government shutdown.

As the threat of a government shutdown in the US looms, it is speculated that the SEC may quickly approve Ethereum futures ETFs.

SEC Could Expedite Ethereum ETFs

ethereum-eth

Before a possible U.S. government shutdown, the U.S. Securities and Exchange Commission (SEC) seems to be accelerating the process of launching Exchange-Traded Funds (ETFs). If everything goes as planned, the Valkyrie Bitcoin and Ether ETF could be launched next week, according to Bloomberg analysts.

Previously, Bloomberg analysts Eric Balchunas and James Seyffart reported a 90% probability of Ethereum Futures ETFs launching in October 2023. They also predicted that Valkyrie Bitcoin Futures ETF (BTF) would be the first ETF with Ethereum exposure on October 3, 2023. Previously, it was reported that Valkyrie had submitted a Form 497 outlining its plan to convert BTF into a dual Bitcoin and Ether Exchange-Traded Fund.

Finally, analyst Balchunas mentioned that the SEC in the U.S. might want to expedite the launch of Ethereum futures ETFs in the context of a possible U.S. government shutdown. This could be a move with the intention of completing the work before a significant portion of SEC staff becomes unavailable due to the shutdown.

“I hear the SEC wants to fast-track Ether futures ETFs (because they want to get them done before the shutdown), so they’ve asked applicants to update their documents by Friday afternoon.”

During a hearing on SEC oversight by the U.S. House Financial Services Committee, Commission Chairman Gary Gensler stated that in the event of a U.S. government shutdown, the SEC would only be able to operate with a skeleton staff.

Other Ethereum ETF Applications

As a result, the delay of the Volatility Shares Ethereum Futures ETF, initially expected by October 11, is likely due to the shutdown. On September 20, 2023, Grayscale submitted another application to create an Ethereum Futures ETF.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

US Secretary Pompeo Focuses on Russia Amid Growing Calls for Financial Sanctions

April 28th Update: In a recent statement, US Secretary...

Trump’s Tariff Impact: Will Income Taxes Be Eliminated for Americans Under $200K?

On April 27th, COINOTAG reported significant developments regarding economic...

US SEC Approves ProShares Trust’s XRP ETF: A New Era for XRP Futures Trading

In a significant development for crypto investors, the U.S....

Michael Saylor Advocates Bitcoin Accumulation: Stay Humble, Stack Sats

In a recent update from COINOTAG on April 27,...

ProShares Trust XRP ETF Approved by SEC for Public Listing on April 30th

In a significant development for cryptocurrency investors, the U.S....
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img