Nine Ethereum futures ETFs are set to launch next Monday, with a total scale reaching seven billion US dollars.

It seems that in order to avoid a government shutdown crisis in the United States, the Securities and Exchange Commission (SEC) has been expediting announcements of approval or postponement for recent ETFs in the past few days. According to Bloomberg's ETF analyst James Seyffart, it is expected that nine Ethereum futures ETFs will launch next Monday.

Next Monday Expected to See Nine Ethereum Futures ETFs Launch

Following asset management company Valkyrie's announcement that its Bitcoin futures ETF would be transformed into a mixed Bitcoin and Ethereum futures ETF with the product code remaining as BTF, after being approved, several fund companies are also gearing up. According to Bloomberg ETF analyst James Seyffart, it is expected that nine Ethereum futures ETFs will be launched next Monday.

OKAY: This looks to be the full list of #Ethereum Futures ETFs that will be given SEC accelerated approval to launch on Monday. Assuming they are all operationally ready to go & assuming no last minute entrants. A potential 9 ETFs with ETH futures trading on Monday pic.twitter.com/eQF6MWL4kP

— James Seyffart (@JSeyff) September 29, 2023

SEC Approves First "Mixed" Ethereum Futures ETF! Valkyrie Takes the Lead, Trading Starts on 10/3

This will also trigger a wave of price wars among ETFs. ProShares is currently preparing to launch three Ethereum ETFs with a fee rate of 0.95%, while Bitwise's two ETFs have a fee rate of 0.85%, and VanEck's is at 0.66%.

Did Valkyrie Jump the Gun? Or Are There Variables at Play?

However, Valkyrie, which was the first to announce approval, later issued a 497 statement indicating that they will not purchase Ethereum futures until they are officially launched and will close out any previously purchased Ethereum futures. This adds variables to whether these Ethereum futures ETFs will be listed as expected!

The plot thickens, Valkyrie just put out 497 that they are in fact not going to buy Ether futures until they are live (prob Tue) and are going to sell the Eth futures they bought (in an effort to jump line a bit). SEC must have threatened them to cut it out. Damn. https://t.co/yDkggCw3d1 pic.twitter.com/cKaV7k7AJs

— Eric Balchunas (@EricBalchunas) September 29, 2023

Valkyrie's BTF was originally an ETF trading Bitcoin futures. This time, they applied for the transformation, which logically suggests that they should not have purchased Ethereum futures before the approval date. The author believes that closing out the jump-ahead Ethereum futures is also for compliance reasons, and it is not too late to execute the new strategy after officially launching!

With the market's anticipation of the launch of ETFs, it will bring new investment channels to investors, increase liquidity, and reduce fee rates. It was previously estimated that the size of the Ethereum futures ETF market would reach $700 million.

Bloomberg: Ethereum Futures ETF Expected to Be Approved in October! What Impact Will It Have on the Market?