SEC Ready To Approve Ethereum ETF: Future of Crypto Investing

• The U.S. Securities and Exchange Commission (SEC) is reportedly ready to approve an Ethereum (ETH) futures exchange-traded fund (ETF).
• This is nearly two years after the SEC greenlighted a similar Bitcoin (BTC) product.
• Companies who filed for the ETFs include Volatility Shares, Bitwise, Roundhill and ProShares.

U.S. SEC To Approve Ethereum Futures ETF

The U.S. Securities and Exchange Commission (SEC) is reportedly ready to approve an Ethereum ( ETH ) futures exchange-traded fund (ETF), nearly two years after greenlighting one for Bitcoin ( BTC ).

First-Ever Futures ETF Based on Second-Largest Digital Asset

This would be the first-ever futures ETF based on the second-largest digital asset by market cap. Anonymous sources familiar with the matter say that the SEC won’t block the ETH-based futures products, but notes that they aren’t sure which exact bids will be approved. Companies who filed for them include Volatility Shares, Bitwise, Roundhill and ProShares, according to reports.

Initial Approval of Bitcoin Product in October 2021

The SEC first approved ProShares’ bid to create an ETF based on BTC futures in October 2021, the first of its kind at the time. However, every bid to create a spot market Bitcoin ETF has been rejected thus far due to liquidity, safety, and volatility concerns raised by regulators.

SEC Looking at Public Opinion Toward ARK Invest’s Spot Market Bitcoin ETF

Earlier this month, the SEC opened up the potential creation of ARK Invest’s spot market Bitcoin ETF to public opinion; investors were asked to submit their views in writing toward a proposed rule change that would allow the Chicago Board Options Exchange (CBOE) to list and trade shares of ARK’s BTC ETF.

Ethereum Price at $1,689 as of Writing

At time of writing Ethereum is trading for $1,689 – a 6.1% decrease during the last 24 hours