In the SEC, six applications have been filed to launch ETF based on Ethereum futures.
The Commission will consider:
- Ether Strategy ETF;
- Bitwise Ethereum Strategy ETF;
- Roundhill Ether Strategy ETF;
- Ethereum Strategy ETF;
- Proshares Ether Strategy ETF;
- Grayscale Ethereum Futures ETF.
Also in recent days asset manager Direxion sent regulators a proposal for approval of an ETF based on a basket of CME-traded Bitcoin and Ethereum futures.
To date, the Commission has rejected all Bitcoin ETFs: an exception was made for ProShares and Valkyrie Investments, which are based on CME futures on the first cryptocurrency.
In a discussion with The Block, ETF Store president Nate Geraci called the approval of an Ethereum futures-based ETF a “real possibility”.
Similar instruments are traded in Canada and Brazil.
Earlier in the United States, applications for Ethereum ETF were filed by Kelly Strategic Management, WisdomTree and Kryptoin.
Bloomberg analyst James Seyffart has raised the odds of approval of a spot Bitcoin ETF based on digital gold to 65%.
The expert explained that decisive factors for the Bitcoin ETF will be events around the SEC case against Ripple, andthe Grayscale lawsuit concerning the GBTC conversion.