US SEC Nod Ethereum Futures ETF Before Government Shutdown

Ahead of the potential US government shutdown, the U.S. Securities and Exchange Commission (SEC) is reportedly accelerating the launch of the Exchange-Traded Funds (ETF). If things go as planned, the Valkyrie Bitcoin and Ether ETF could be launched by next week, according to Bloomberg analysts.

Also Read: Franklin Templeton’s Bitcoin ETF Application Gets SEC Nod

Valkyrie Bitcoin and Ether ETF Launch

Earlier, Bloomberg analysts Eric Balchunas and James Seyffart reported that the Ethereum Futures ETFs have a 90% chance of launching in October 2023. They also predicted that Valkyrie Bitcoin futures ETF ($BTF) is set to become the first to hold Ethereum exposure on October 3, 2023. Earlier, CoinGape reported that Valkyrie submitted a Form 497 with a plan to convert BTF into a dual Bitcoin and Ether Exchange-Traded Fund.

In a latest, analyst Balchunas stated that in the context of the potential US government shutdown, the US SEC wants to accelerate the launch of the Ethereum futures ETFs. This could be a move targeted at finishing the job before a vast majority of the SEC staff become unavailable if the shutdown kicks in.

“Hearing the SEC wants to accelerate the launch of Ether futures ETFs (because they want it off their plate before shutdown) so they have asked the filers to update their documents by Friday afternoon.”

During the US House Financial Services Committee hearing on the oversight of the SEC, Chair Gary Gensler said that the Commission could be working only with a skeletal staff structure should the US government shutdown take effect.

Other Ethereum ETF Filings

Hence, the Volatility Shares Ethereum futures ETF launch, which was originally expected for October 11, may likely be delayed owing the shutdown. On September 20, 2023, Grayscale had once again submitted an application to create an Ethereum Futures ETF.

Also Read: SEC Chair Gets Subpoena Threats; Is Gary Gensler Hiding Info on FTX?

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Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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