SEC to Approve Ethereum Futures ETFs, Boosting Crypto Industry
The U.S. Securities and Exchange Commission (SEC) is expected to approve Ethereum futures exchange-traded funds (ETFs) in the coming months, according to anonymous sources. Around twelve companies, including ProShares, Volatility Shares, Bitwise, and Valkyrie, have applied to launch Ethereum futures ETFs, and the SEC is not expected to block their applications. The ETFs would track the price of Ethereum futures traded on the Chicago Mercantile Exchange. While specific approval dates are unclear, some filings could receive approval as early as October. This news comes as Ethereum experiences a significant price drop, reaching its lowest levels since mid-June.