- Six entities have filed applications with the SEC for Ethereum (ETH) futures-based Exchange-Traded Funds (ETFs), following the recent wave of Bitcoin spot ETFs.
- The rush to launch Ethereum spot ETFs has sparked interest in the crypto community.
- Volatility Shares was the first to file for an Ether ETF on July 28, followed by Bitwise, VanEck, Roundhill, ProShare, and Grayscale within 24 hours.
- The SEC has historically been hesitant to approve ETF applications linked to ETH futures contracts.
- If the SEC does not reject the recently submitted Ether ETF proposals, a new era in crypto investment could emerge, with potential ETF launches happening 75 days after the filing date.
- Volatility Shares, having filed on July 28, may potentially launch its Ether ETF on October 12.
- Despite the growing number of ETF applications, the absence of regulatory approval has kept ETH prices moving sideways, currently standing at $1,856.
- Market participants are closely watching for a potential breakout from Ethereum’s current price range, which could signal a shift in sentiment and potentially lead to a sustained upward trend.
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Here's fresh update of the Ether Futures ETF Race, which now has SIX in the running.. nice job by @JSeyff for putting together so quickly pic.twitter.com/G1rwwfaFoS
— Eric Balchunas (@EricBalchunas) August 1, 2023
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