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Ether Futures ETFs Are Poised for U.S. Approval, Bloomberg Reports

Aug 18, 2023 at 10:42 am

Regulatory authorities are on the brink of granting approval for the trading of Ethereum (ETH) futures exchange-traded funds (ETFs) within the United States. This development was highlighted in a recent report by Bloomberg.

Numerous entities have submitted applications to have these ETFs listed, designed to encompass derivative contracts linked to Ethereum, as opposed to holding actual Ethereum tokens. The green light from the U.S. Securities and Exchange Commission is the pivotal step required, and according to Bloomberg, this approval might be imminent.

The landscape already features U.S.-based ETFs that encompass crypto derivatives, specifically those tied to Bitcoin futures. The industry is in a state of anticipation to receive updates regarding the potential approval of ETFs that directly hold Bitcoin, without the intermediary involvement of derivatives. Financial giants like BlackRock are also in pursuit of establishing such ETFs.

As this landscape evolves, the market is closely watching the developments, which could further bolster the integration of cryptocurrencies into the traditional financial sector.

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