Ethereum futures ETF could launch next week amid looming US government shutdown

The U.S. Securities and Exchange Commission could o.k. an Ethereum (ETH) futures exchange-traded money (ETF) arsenic aboriginal arsenic adjacent week, per Bloomberg analysts.

In a Sept. 28 post connected X(formerly Twitter), Eric Balchunas, a elder ETF expert for Bloomberg, said the fiscal regulator “wants to accelerate the motorboat of Ether futures ETFs” earlier a imaginable authorities shutdown. This assertion is coming connected the heels of a enactment to investors that pegged the likelihood of an ETH Futures support successful October astatine 90%.

Balchunas added that respective filers person been asked to update their documents by Friday day truthful they tin commencement trading by adjacent week, Tuesday, Oct. 3.

Fellow Bloomberg expert James Seyffart corroborated the anticipation successful a abstracted post. He wrote:

“Looking similar the SEC is gonna fto a clump Ethereum futures ETFs spell adjacent week potentially.”

Neither of the 2 reporters cited their sources, but there’s a looming menace of a U.S. authorities shutdown by Oct. 1 if Congress doesn’t hold connected spending adjacent fiscal year.

The SEC has 15 applications for Ethereum futures ETFs submitted by 9 antithetic issuers, including VanEck, BitWise, ProShares, Grayscale, and others. The Bloomberg analysts posit that Valkyrie’s Bitcoin Futures ETF could beryllium the archetypal ETF to person an Ethereum vulnerability by Oct. 3.

Following this development, the terms of ETH has surged by 1.7%, reclaiming a worth supra $1,600, according to CryptoSlate’s data. This comes aft the plus slipped beneath this threshold connected Sept. 22 and remained determination until today’s recovery.

On the different hand, investors anticipating a Bitcoin (BTC) spot ETF volition request to grounds patience. The SEC has not shown intentions of support connected this beforehand arsenic of now.

However, immoderate lawmakers are urging the SEC to greenlight a Bitcoin spot ETF. House Representatives Mike Flood, Tom Emmer, Ritchie Torres, and Wiley Nickel person penned a missive to the SEC referencing the Grayscale case.

The station Ethereum futures ETF could motorboat adjacent week amid looming US authorities shutdown appeared archetypal connected CryptoSlate.