• Thu. May 30th, 2024

SEC To Approve Ether Futures ETFs, Nears The Final Stage

Maria Bartiromo

ByMaria Bartiromo

Aug 18, 2023

The latest report says that the United States Securities and Exchange Commission (SEC) is edging closer to approving Ether Futures Exchange-Traded Funds (ETFs), signaling a crucial moment for the financial sector’s integration with the digital assets industry. Following this development, the price of Ether has also increased by 11% as anticipation increased.

Many reputable businesses, including popular brands like Volatility Shares, Bitwise, Roundhill, and ProShares, have submitted proposals to introduce these ground-breaking ETFs. The industry is buzzing with anticipation over the consequences of the SEC’s decision to approve numerous Ether Futures ETFs, which could occur as early as October.

While commenting on this development, the team at Cryptopolitan has said that the boundaries between conventional finance and the digital world would be further blurred if these ETFs were allowed, allowing investors to acquire exposure to Ether’s price changes without owning the cryptocurrency.

Key Players Optimistic About Spot Bitcoin ETFs Regulatory Approval

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Ether’s price movement, which jumped by 11% upon hearing of the upcoming approval, demonstrated the market’s anticipation. The value of the cryptocurrency dropped to its lowest point since mid-June after reaching a high of $1,717.

Damilola Lawrence, a market analyst with Cryptopolitan, said that the fast rise in value reflects growing investor faith in Ethereum’s potential to be a major participant in the financial world, particularly as a hedge against traditional market volatility.

On August 16, Valkyrie Investments applied for an Ethereum futures ETF, a trend analyst says is like “adding more gasoline to the flames.” Also, leaders in the industry, including Mike Novogratz of Galaxy Digital, are optimistic that spot Bitcoin ETFs will soon receive regulatory approval.

Past observation has it that this attitude has historically impacted the price changes of Bitcoin. In response to these regulatory changes, Bitcoin enjoyed a spike above $31,000 in June. Also, before falling even further to $26,152,10 at the time of writing, Bitcoin’s value fluctuated around the $29,000 mark.

Experts Defend SEC’s Move, States Advantages Of Ether Futures ETFs

Ether Futures ETFs’ probable approval by the SEC would greatly impact the larger financial market. While speaking further, Lawrence says that a new degree of legitimacy and integration into traditional finance would be achieved with the introduction of ETFs, even though cryptocurrencies have steadily earned acceptability as alternative financial assets. Also, internal sources have it that SEC may approve multiple applications by the beginning of October.

News also has it that companies have started applying for slots. This proactive move is linked to SEC’s 2021 modus operandi when it approved a trading BTC future. The cautious approach taken by the SEC tries to find a balance between protecting investors and promoting innovation in the industry.

Reports also indicate that the SEC would set up a precedent for how other cryptocurrency-based derivatives could be regulated in the future by developing a framework for Ether Futures ETFs. BlackRock Inc. has also been listed as one of the many companies seeking to leverage the ETFs on Bitcoin.

This move is expected to influence the price of BTC, pushing it above the $31,000 price mark by June. It has also been noted that the proposed price may first reach $29,000 before moving back to $26,152.10 (or slightly lower). Both traders and the larger financial community alike are eagerly awaiting the SEC’s imminent decision as they hope to see the consummation of the combined traditional and digital finance.

Maria Bartiromo

Maria Bartiromo

Maria Bartiromo is a renowned news writer and journalist, celebrated for her insightful reporting and authoritative voice. With a career spanning years, she has established herself as a trusted source of accurate and comprehensive news analysis, keeping readers informed on vital global developments.

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