Bloomberg ETF Analyst: SEC Wants to Accelerate Ethereum Futures ETF Approval, 90% Chance of Launch in October

As the Bitcoin spot ETF sees a glimmer of hope due to the Grayscale lawsuit, the issuance of Ethereum futures ETF has also become a focal point of discussion in the crypto community. Bloomberg ETF analyst Eric Balchunas brought positive news to the community in recent days, stating that the SEC is looking to expedite the approval of the Ethereum futures ETF, with the first fund expected to appear in the first week of October.

UPDATE: Hearing the SEC wants to accelerate the launch of Ether futures ETFs (bc they want it off their plate bf shutdown) so they've asked the filers to update their docs by Fri pm (no small task to jam into 48hrs, esp for indie issuers), so they can go eff Mon and trade Tue. https://t.co/gKyQFK12aM

— Eric Balchunas (@EricBalchunas) September 28, 2023

Bloomberg ETF Analyst: Ethereum Futures ETF Likely to be Approved in October

Bloomberg ETF analyst Eric Balchunas pointed out last night on the 27th that while the Bitcoin ETF is still pending approval, there is a very high probability that an Ethereum Futures ETF will be approved in October, with Eric stating a 90% chance of approval.

At the same time, Eric's Bloomberg data shows that due to strategic adjustments, the Bitcoin Futures ETF launched by Valkyrie will have the opportunity to add Ethereum positions on 10/4, making it the first futures ETF to include Ethereum. As for the ETF only exposed to Ethereum futures, it is expected to go live on 10/12, launched by Volatility Shares.

Including Valkyrie and Volatility Shares, there are currently at least 15 Ethereum Futures ETF applications from a total of 9 issuers. While not all are expected to be approved, Eric still believes that multiple Ethereum Futures ETFs will emerge.

SEC Seeks to Expedite Approval of Ethereum Futures ETF

This morning, Eric provided further updates on his remarks, stating that the SEC wants to expedite the launch of Ethereum Futures ETFs in order to resolve this business before the government shutdown.

Therefore, the SEC has requested applicants to update their documents by Friday for them to take effect on Monday, enabling trading to begin on Tuesday.

If Eric's words hold true, there may be a chance to trade the first Ethereum Futures ETF as early as 10/3.