People familiar with the matter: US SEC will approve Ethereum futures ETF

Author: TOM MITCHELHILL, COINTELEGRAPH; Compiler: Songxue, Jinse Finance

Ethereum surged about 11% to $1,700 after news that the US Securities and Exchange Commission would allow the listing of the first exchange-traded fund (ETF) based on ethereum futures.

According to an Aug. 17 report by Bloomberg, which cited anonymous sources familiar with the matter, state regulators appear unlikely to block applications from nearly a dozen companies, including ProShares, Volatility Shares, Bitwise and Roundhill, which recently filed Applied for Ethereum ETF futures. **

It's unclear which ETF applications will be approved by the SEC; however, officials said** several of them could be approved as soon as October. **

ETF analyst Eric Balchunas said he wasn't surprised by the SEC's move to approve an ethereum futures ETF, adding that the decision shows that regulators' views on different products, such as spot bitcoin ETFs, can evolve over time. change.

The U.S. Securities and Exchange Commission (SEC) has received a flood of applications for ethereum futures ETFs, with more than a dozen applications for such products filed with the regulator since the end of July.

The news sent ETH prices back up 11 percent to $1,717 just 20 minutes after the market plunged.

Ethereum prices jumped 11% following news that the U.S. Securities and Exchange Commission (SEC) will approve an ethereum futures ETF. Source: TradingView

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