Following news that the US Securities and Exchange Commission (SEC) is set to permit the listing of exchange-traded funds (ETFs) based on Ethereum futures, the price of Ether saw a notable 11% surge to reach $1,700.
Reported by Bloomberg on August 17, citing undisclosed sources familiar with the situation, it appears that the SEC is unlikely to obstruct the applications from approximately twelve firms, including names like ProShares, Volatility Shares, Bitwise, and Roundhill. These companies have recently submitted applications to launch Ether Futures ETFs.
Although it remains uncertain which specific ETF applications will gain SEC approval, officials have indicated that several of them could potentially be granted the green light as early as October. ETF analyst Eric Balchunas expressed a lack of surprise at the SEC's decision to approve an Ethereum future ETF. He also noted that this development signifies how regulatory perspectives on various products, such as spot Bitcoin ETFs, can evolve over time.
The US Securities and Exchange Commission has experienced a surge in applications for Ethereum futures ETFs, with over a dozen submissions for such products made to the regulator since the conclusion of July.
