22. February 2024

SEC Set to Approve Ethereum Futures ETF, 2 Years After Bitcoin’s Approval

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

Previous Approval of Bitcoin Product

In October 2021, the SEC approved ProShares’ bid to create an ETF based on BTC futures, the first of its kind at the time. However, they have rejected every bid to create a spot market Bitcoin ETF thus far due to concerns about liquidity, safety, and volatility.

Chairman Gary Gensler’s Comments

In September 2021, Chairman Gary Gensler said that he would consider approving a BTC futures ETF in a way that provides “significant consumer protection”.

Public Opinion Requested by SEC

Earlier this month, the SEC opened up potential creation of ARK Invest’s spot market Bitcoin ETF to public opinion by asking investors 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.

Current Price Of Ethereum

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