The Securities and Exchange Commission (SEC) is likely to approve several applications for ether (ETH) futures exchange-traded funds (ETFs) simultaneously, according to a Wall Street Journal report.
Since July, the SEC has received a flood of ETH and Bitcoin-ETH futures ETF applications from investment firms. Unlike in 2021 when similar applications were denied, the SEC has not asked firms to withdraw their requests this time.
At least 16 applications for ether or Bitcoin-ether futures ETFs now await regulatory approval. Ether is the native token of the Ethereum blockchain used for transactions. Crypto futures ETFs track the performance of futures contracts tied to digital asset prices.
With crypto futures ETF approval potentially on the horizon, the SEC continues fielding new applications, including a recent ether futures ETF filing from Valkyrie. As the first in line, Valkyrie’s proposed bitcoin-ether offering could launch as early as October.
Industry experts note first-mover advantage is key for ETFs. For example, the first Bitcoin futures ETF from ProShares has amassed over $1 billion in assets since launching in 2021, dwarfing followers.
Beyond futures ETFs, the SEC has yet to approve a spot Bitcoin ETF, which financial giants like Fidelity have applied for. The timeline requires a decision by January.
Overall, the regulatory climate appears to be warming toward crypto ETFs. With multiple futures products simultaneously greenlit soon, investors may finally gain access to crypto exposure via mainstream investment vehicles.
