Key Takeaways
- The SEC reportedly wants to accelerate the approval of ETH futures ETFs.
- According to Bloomberg analysts, the agency wants to get the issue off its plate before a potential government shutdown.
- If approved this weekend, the first Ethereum futures fund could begin trading on Tuesday.
US lawmakers now have less than 4 days to avert a government shutdown, with Senators still locked in a dispute over a critical funding bill.
Like other government agencies, the Securities and Exchange Commission will grind to a near halt if the government shuts down, with just a handful of critical staff remaining in their posts.
Facing that potential, the SEC is reportedly scrambling to approve an Ether Futures Exchange-Traded Fund (ETF) before the weekend.
Bloomberg Analysts Says SEC Wants to Accelerate ETH Futures ETF Approval
In a tweet on Thursday, Eric Balchunas, a senior ETF analyst at Bloomberg, reported that the SEC has asked firms that have applied to list ETH futures funds to update their filings by Friday afternoon.
Adding that the agency wants the applications “off their plate” before any potential shutdown, he said the first fund could be ready to trade as early as Tuesday, October 3.
According to an analysis by Blachunus and James Seyffart, Ethereum futures ETFs have a “9o% chance of launching in October.
They said they believe Valkyrie’s Bitcoin futures ETF will be the first to hold Ethereum exposure. Pure Ether futures fund are expected to launch in the week after, they added.
Spot ETFs Still Uncertain
Although the SEC may approve its first Ether futures ETF in the coming days, applications for Bitcoin spot ETFs remain contentious.
With an SEC decision on Bitcoin spot fund having already been delayed until mid-October, a government shutdown could further stall the process.
Nevertheless, pressure is mounting on the SEC to approve spot Bitcoin funds.
In a bipartisan letter to the agency’s Chain Gary Gensler, House Representatives Tom Emmer, Mike Flood, Ritchie Torres, and Wiley Nickel called on the SEC to approve spot bitcoin Exchange-Traded Products (ETPs) immediately.
“There is no reason to continue to delay such applications under inconsistent and discriminatory standards,” the letter stated.
It added that “a regulated spot bitcoin ETP would provide increased protection for investors by making access to bitcoin safer and more transparent.”
James Morales is CCN’s blockchain and crypto policy reporter. He has been working in the news media since 2020, writing about topics such as payments, banking and financial technology. These days, he likes to explore the latest blockchain innovations and the evolving landscape of global crypto regulation.
With an educational background in social anthropology and media studies, James uses his platform as a journalist to explore how new technologies work, why they matter and how they might shape our future.
