Ether Futures ETFs could all get approval at same time: Report

The United States Securities and Exchange Commission (SEC) is apt to o.k. aggregate applications for Ether futures exchange-traded funds (ETFs) astatine the aforesaid time, the Wall Street Journal reported, citing sources acquainted with the matter. 

Since July, the regulator has been flooded with applications from respective concern firms, including requests combining futures Bitcoin (BTC) and Ether strategies. As of now, the SEC has not instructed the firms to retreat their applications, a alteration from 2021 erstwhile firms were instructed to retreat akin applications. This suggests that the regulator won't artifact the fund's motorboat wrong a fewer weeks, according to the WSJ sources

At slightest 16 applications for Ether oregon Bitcoin-Ether futures ETFs are awaiting regulatory approval. Ether is the autochthonal coin of the Ethereum blockchain, utilized for peer-to-peer transactions wrong the decentralized network. A crypto futures ETF that tracks the show of crypto futures contracts. For example, alternatively of investing straight successful Bitcoin oregon Ethereum, a crypto futures ETF invests successful futures contracts that are tied to the terms of these integer assets.

UPDATE: Here's what the #Ethereum futures ETF filings contention looks like. This is simply a database of each filings including withdrawn AND the 16 progressive filings. Notice @ValkyrieFunds' day connected $BTF presently looks to beryllium the person absent immoderate enactment from SEC -- 10/3/23 https://t.co/DgZpDVbEqO pic.twitter.com/CYEcTJnkx8

— James Seyffart (@JSeyff) August 16, 2023

With the imaginable of crypto futures support looming, the SEC keeps receiving requests. Earlier this week, plus absorption steadfast Valkyrie filed for an Ether futures ETF successful summation to a erstwhile exertion combining a Bitcoin-Ether futures strategy. Valkyrie is the archetypal successful enactment successful this race, and could spot its BTC-ETH ETF debuting successful aboriginal October.

In the ETF industry, first-mover vantage is imperative. According to the WSJ citing information from Morningstar, the archetypal futures Bitcoin ETF approved from ProShares, has gathered $1 cardinal successful assets nether absorption since its inception successful October 2021, portion Valkyrie's akin product, launched a fewer days later, amassed astir $28 cardinal successful assets nether management.

In different large determination affecting the crypto industry, the SEC has yet to determine whether it volition o.k. a spot Bitcoin ETF successful the United States. Players waiting support see Wall Street giants, specified arsenic Fidelity and BlackRock. According to the application's timeline, the SEC has until January to present a last verdict.

Magazine: Deposit risk: What bash crypto exchanges truly bash with your money?