Imminent Trading of Ethereum Futures ETFs Anticipated in the US

The trading of Ethereum futures exchange-traded funds (ETFs) might commence in the United States as soon as next week, as suggested by analysts from Bloomberg.

On September 28, Bloomberg Intelligence analyst, James Seyffart, mentioned in a post that there’s a potential move by the SEC to green-light several Ethereum futures ETFs in the upcoming week. Seyffart’s remarks came as a reaction to another ETF analyst, Eric Balchunas, who had earlier expressed that there’s a buzz within the U.S. Securities and Exchange Commission (SEC) circles about speeding up the launch of Ether futures ETFs.

Balchunas noted, “They want it off their plate [before] the shutdown,” indicating that he’s been informed about various filers amending their documents by the end of the week, aiming to kickstart trading as early as the following Tuesday. The looming U.S. government shutdown is foreseen to have ramifications on the country’s financial 

regulatory bodies, among other federal agencies.

The sources of this new development weren’t disclosed by either analyst concerning the line-up of crypto ETFs awaiting approval.

As per the analysts’ note on September 27, a total of 15 Ether futures ETFs, proposed by nine issuers, are currently in the approval pipeline. The list of companies includes notable names such as VanEck, ProShares, Grayscale, Volatility Shares, Bitwise, Direxion, and Roundhill.

The analysts are projecting a 90% probability of Ether futures ETFs launching within October, with Valkyrie’s Bitcoin futures product, which is set to include Ether exposure, slated for unveiling on October 3. They forecast that pure Ethereum futures ETFs will begin trading in the subsequent week, largely propelled by actions from Volatility Shares.

However, the analysts also added a note of caution, stating, “we don’t expect all of them to launch.”

Previously in August, a surge of 11% in ETH prices was observed when reports suggesting a possible approval of Ether futures ETFs in October emerged. On the day, ETH prices have seen a modest 1% increase, now floating just above the $1,600 mark.

Despite the enthusiasm around Ethereum futures, the anticipation levels for crypto futures products haven’t matched up to those for their spot-based counterparts. It’s notable that Bitcoin futures ETFs have been trading in the U.S. since 2021, setting a precedent in the market.