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SEC May Approve Ethereum-Futures ETFs Sooner Than Expected – Details

Press Releases Crypto News Bitcoinist SEC May Approve Ethereum-Futures ETFs Sooner Than Expected – Details

The United States Securities and Exchange Commission (SEC) may approve the foremost Ethereum futures exchange-traded funds (ETFs). This news comes amid the rising interests of several financial giants that have filed applications with the US SEC to deploy ETF products based on cryptocurrencies, such as BTC and ETH.

Big Victory For Crypto: SEC To Greenlight Ethereum ETFs

A Bloomberg report disclosed that the SEC is showing a possible green light to approve an ETH futures ETF for institutional investors in the country. This approval could create a way for other companies, such as Bitwise, ProShares, Volatility Shares, and Roundhill, that have submitted applications to provide ETH futures ETFs.

The SEC has hesitated to approve cryptocurrency ETFs until late 2021. The commission allowed trading in funds related to Bitcoin futures contracts on the Chicago Mercantile Exchange.

Since then, there has been increasing speculation concerning the potential of an Ethereum futures product being deployed into the broader financial market. But the US financial watchdog has been slow to permit a derivatives product in the second-biggest crypto asset.

The SEC’s reason for delaying anchors on concerns about manipulating digital asset prices and insufficient liquidity.

Ethereum’s price currently hovers at $1.677 in the daily chart. | Source: ETHUSD price chart from TradingView.com

The Cryptocurrency ETF Landscape

Many asset management companies in the US and beyond have continued pushing to launch crypto exchange-traded funds. Grayscale Investments LLC, a leading asset management firm, still awaits the US SEC’s decision to approve its application. The firm filed to convert its asset from a Bitcoin trust to a Bitcoin ETF.

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Author: Kent Glory

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