Multiple Ether Futures ETF Approvals Reportedly Expected Soon

• The SEC has not yet ordered the companies to withdraw their applications unlike 2021.
• Valkyrie is now in the lead and may be the first to market with a BTC-ETH ETF.

Several applications for Ether futures ETFs are expected to be approved simultaneously by the U.S SEC, according to WSJ, citing persons familiar with the subject. There has been a deluge of applications to the SEC since July, with some financial companies asking to combine futures Bitcoin and Ether strategies.

The SEC has not yet ordered the companies to withdraw their applications, unlike in 2021 when the SEC ordered the same thing to happen. According to WSJ sources, this bodes well for the fund’s rollout in the coming weeks.

At this time, regulators have not yet approved any of the sixteen ETF proposals for Ether or Bitcoin-Ethereum futures.  A crypto futures ETF would not put its money directly into Bitcoin or Ethereum, but rather into futures contracts that are pegged to the value of these cryptocurrencies.

All Eyes on SEC

Requests keep coming in while the SEC mulls over whether or not to approve crypto futures contracts. This week, Valkyrie, an asset management business, submitted applications for an Ether futures exchange-traded fund (ETF) and a combined Bitcoin-Ethereum futures strategy. Valkyrie is now in the lead and may be the first to market with a BTC-ETH ETF in early October.

Having a first-mover advantage is crucial in the ETF market. The Wall Street Journal reports, pointing to data from Morningstar, comparing ProShares’ Bitcoin futures ETF and Valkyrie’s identical product, launched a few days later. According to CMC, the price of ETH at the time of writing is $1,667 and is down 0.28% in the last 24 hours.

Highlighted Crypto News Today:

Bitcoin (BTC) Sticks to $26K Due to Massive Sell-Off, More Dump Incoming?