With the odds of a US government shutdown increasing by the day, the Securities and Exchange Commission (SEC) is reportedly looking to expedite Ethereum Futures exchange-traded funds (ETFs) approvals, according to senior Bloomberg analyst Eric Balchunas.

Meanwhile, the SEC remains hesitant to approve spot Bitcoin ETF applications, with the agency recently delaying its decision on a couple of filings.

An Ethereum Futures ETF Likely to Launch Soon

Eric Balchunas said the SEC has given filers 48 hours to update their applications, which elapses on the afternoon of Sept. 29, to enable the ETF products to go effective on Oct. 2 and begin trading on Tuesday, Oct. 3, 2023.

Balchunas, along with fellow Bloomberg ETF analyst James Seyffart, predicted in a previous tweet that there was a 90% chance that Ether futures ETFs will begin trading in early October, with Valkyrie’s Bitcoin and Ether ETF set to be first in line.

UPDATE: Hearing the SEC wants to accelerate the launch of Ether futures ETFs (bc they want it off their plate bf shutdown) so they’ve asked the filers to update their docs by Fri pm (no small task to jam into 48hrs, esp for indie issuers), so they can go eff Mon and trade Tue. https://t.co/gKyQFK12aM

— Eric Balchunas (@EricBalchunas) September 28, 2023

Valkyrie applied with the SEC to change the investment strategies of its current Valkyrie Bitcoin Strategy ETF to include exposure to ether futures contracts. Meanwhile, Seyffart and Balchunas anticipate that the first pure Ether futures-based ETF product will come from Volatility Shares, expected to become effective on Oct. 11 and launch on Oct. 12.

However, both Bloomberg ETF analysts predict that not all the 15 Ethereum futures ETF