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- 1 Ether Future EFTs are expected to be rolled out next week by the US Securities and Exchange Commission (SEC).
- 2 Analysts offered Ether futures ETFs a 90% chance of launch in October, causing an 11% hike in ETH prices.
Bloomberg, one of the leading global business and financial information and news leaders, came up with one of the biggest news stories of the week. The news was related to the arrival of Ether Future EFT in the next week for trading. An impending US government shutdown accelerating the launch of Ether futures ETFs according to Bloomberg analysts.
All About Ether Futures EFTs
The SEC is expected to approve an Ethereum futures exchange-traded fund (ETF) within a week. Trading of ETFs can be started in the United States for the very first time as per the report of Bloomberg analysts.
A post from James Seyffart, a Bloomberg Intelligence analyst, just surprised the crypto market, as the post reflects the launch of Ether futures ETFs by next week. The post was a response to a fellow ETF analyst Eric Balchunas.
According to Eric Balchunas, SEC is planning to roll out the ETFs before the shutdown and is already working on various filers updates and documents by Friday to make things go on track.
If Congress fails to offer funding for the new fiscal year, the US government is supposed to shut down at 12:01 a.m. ET on October 1. The whole scenario is going to affect the country’s financial regulators.
Before this happens, the US government is all set to launch ETFs. Firms supporting an Ether future or hybrid ETF product are ProShares, Roundhill, VanEck, Grayscale, Bitwise, Volatility Shares, and Roundhill. Also, from nine issuers, around 15 Ether futures EFTs are awaiting approval.
As per the analyst’s ratings, there are 90% chance of launching Ether futures ETFs, with Valkyrie’s Bitcoin future product poised to become the first ever to hold Ether exposure on October 3.
In addition to this, the prediction was made by the cointelegraph in August, causing an 11% hike in the ETH prices at the time. However, the coin gained 1% on the day, standing at $1,600.
Current Performance of Ether
Ether, introduced by Vitalik Buterin in 2013 has rocked the crypto world with its outstanding performance. With time, the coin collected much more popularity, emerging as one of the tough competitors of Bitcoin.
Focusing on the current performance, ETH’s current price is $1,654.11, a hike of 2.91% in the past 24 hours with a market cap of $198 Billion. The volume of ETH in the past 24 hours is around $6 Billion. The circulation supply of ETH is 120,236,031 ETH.
The crypto is available at several crypto exchanges including OKX, Binance, Bybit, DigiFinex, Cointr Pro, etc. at the current price.
Conclusion
Based on the report of Bloomberg, the US government is about to launch Ether futures ETFs within a week. This is going to be the first time in US history and is expected to gain much more popularity and fame. The launch may uplift the value of ETH in the crypto marketplace.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
