Hassan Maishera
TL;DR
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The US SEC is set to approve Ether futures ETFs for trading in the United States.
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Several firms have applied to list ETH futures ETFs on regulated exchanges.
Ether Futures ETFs To Gain Approvals Soon
The United States Securities and Exchange Commission (SEC) is set to approve ether (ETH) futures ETFs for trading in the United States. This is according to a Bloomberg report a few hours ago.
The securities regulator isn’t likely to block the products, Bloomberg added, citing sources close to the matter. The products would be based on futures contracts for Ether, the second-largest cryptocurrency by market cap.
So far, almost 12 companies have filed to list ETH futures ETF, including Volatility Shares, Bitwise, Roundhill and ProShares,
The SEC’s approval will make it possible for these companies to list the ETH futures ETFs on regulated trading platforms, making them available to users in the United States.
Bloomberg pointed out that the approvals might be coming soon. The US SEC previously approved numerous Bitcoin futures ETFs. however, the securities regulator is yet to approve a single spot Bitcoin ETF application.
Wall Street giants like BlackRock have already filed to launch a spot Bitcoin ETF but the SEC is yet to give its approval.
Europe took a massive step towards institutional crypto adoption after the London-based Jacobi Asset Management listed Europe's first spot bitcoin exchange-traded fund (ETF) on Euronext Amsterdam earlier this week.
The Jacobi FT Wilshere Bitcoin ETF is regulated by the Guernsey Financial Services Commission (GFSC) and is now available to investors. The fund is trading under the ticker "BCOIN" and custody for the fund is provided by Fidelity Digital Assets.
