➡️ After a wave of applications to open a spot Bitcoin #ETF by financial giants, recently the ETF "movement" has spread to the second largest coin in the market, #Ethereum. ($ETH ).
➡️ On the morning of August 2, a Bloomberg asset manager discovered a series of documents submitted to the SEC (US Securities and Exchange Commission) for approval to open an Ethereum ETF in the form of a futures contract. futures.
➡️ Specifically, a total of 6 big names have filed with the #SEC : Volatility Shares, Bitwise, Roundhill, VanEck, Proshares and Grayscale.
➡️ In which, Volatility Shares is a pioneer with a new Ethereum ETF called "Ether Strategy ETF". According to an application submitted on July 28, this ETF will reference prices from Ethereum futures contracts instead of directly accessing the coin. Besides, this fund is expected to be traded on the Chicago Mercantile Exchange (CME).
➡️ However, Blackrock has not yet joined this race while this is a pioneer in the wave of applications to open a spot Bitcoin ETF. However, the community is looking forward to the participation of BlackRock, thereby expecting this number to continue to increase.
➡️ Meanwhile, the SEC is reviewing eight applications for a spot Bitcoin ETF from financial giants.
➡️ To date, the Securities and Exchange Commission (SEC) has rejected any application to establish a spot Bitcoin ETF.
➡️ Many believe that the creation of a market surveillance mechanism is the key to making existing ETF applications easier to pass.
➡️ According to the inference of many experts, with Blackrock's case this time, the SEC approval rate for a Bitcoin ETF application is quite high. However, the recent SEC signal that the road to approval is still quite arduous.
