Ethereum ETFs Applications Surge as SEC Reverses Stance

Prominent firms seek ETH Futures ETF approval from SEC, signaling potential market expansion.

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  • Renowned investment firms have filed formal requests for introducing Ethereum Futures ETFs to the US market.
  • Insider reports indicate a surprising shift in the SEC’s stance on these ETFs.
  • Major asset management firms are also looking to pioneer Bitcoin ETFs.

Ethereum Futures have experienced a significant surge in interest, with prominent investment firms recently filing formal requests to introduce exchange-traded funds (ETFs) focused on cryptocurrency within the United States.

SEC Shifts Stance on Ethereum Futures ETFs

The latest influx of ETF applications comes after established mainstream asset management firms’ recent submissions, all vying to introduce Bitcoin ETFs to the market. Even the world’s largest asset manager, BlackRock, has thrown its hat into the ring. 

Sponsored

Interestingly, the U.S. Securities and Exchange Commission’s (SEC) position on Ether’s ETFs has undergone a complete U-turn since May. Back then, insiders reported that the US securities regulator had advised companies pursuing these products to halt their efforts.

In response to this shift, Henry Jim, an analyst from Bloomberg Intelligence, shared his thoughts on X, previously known as Twitter:

Major Firms Submit Ethereum ETF Applications

Renowned entities, such as ProShares, VanEck, and Volatility Shares, have formally submitted distinct applications to the SEC.

According to reputable sources cited by Blockworks, insiders familiar with the latest filings for Ethereum futures ETFs have revealed that the SEC is now willing to openly consider the possibility of launching such a product in the market.

Sponsored

Ethereum Futures ETFs serve as investment vehicles that pool together contracts promising the future price of the cryptocurrency. By acquiring shares in this bundle, investors essentially place bets on whether the future price of ETH will rise or fall.

This innovative investment instrument offers a way for investors to speculate on Ethereum’s price movements without directly owning the digital asset. It presents a structured approach for gaining exposure to potential price changes in Ether.

On the Flipside

  • While Ethereum Futures ETFs offer an indirect way to gain exposure to the cryptocurrency, this detachment from owning actual Ether could lead to a lack of genuine interest in understanding the underlying technology and fundamentals of the Ethereum network.
  • The US Securities and Exchange Commission (SEC) has not yet accepted these ETFs. There remains a possibility that the SEC may not approve them.

Why This Matters

The SEC’s willingness to consider these ETFs signals a positive shift in regulatory sentiment toward crypto-related financial products, potentially opening the doors for further innovation and investment in the broader cryptocurrency market.

To learn more about how Polygon’s ZK-EVM aims to revolutionize DeFi activity with Spark, read here: 

How Polygon zkEVM Plans to Fire Up DeFi Activity with Spark

For insights into Tether’s recently revealed Q2 Treasury holdings attestation, click here:

Tether Has More Treasury Holdings Than UAE, Australia, and Spain

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.