The regulator is unlikely to disapprove products based on futures contracts on the second-largest cryptocurrency, sources familiar with the situation said
The U.S. Securities and Exchange Commission (SEC) is ready to approve the first applications for Ethereum-ETF futures. And that serves as a big win for a number of companies that have long wanted to bring such products to market, Bloomberg reports.
According to people familiar with the situation, it's unlikely that regulators won't approve products based on futures contracts on the second-largest cryptocurrency. 12 companies, including Volatility Shares, Bitwise, Roundhill and ProShares, have previously applied to launch ETFs of this type.
That said, it was initially impossible to predict which funds would get the green light. By October, there could be several of them, suggested the official, who wished to remain anonymous when discussing the information, the publication writes. The SEC has not yet commented on the situation.
Earlier, the British company Jacobi Asset Management in August launched Europe's first spot bitcoin-ETF almost two years after approval.
Earlier, the SEC postponed a decision on Katie Wood's ARK 21Shares fund ARK 21Shares' bitcoin-ETF application. The SEC is now reviewing more than 12 applications for spot bitcoin ETFs.
On Aug. 8, Wood said she expects the SEC to approve several bitcoin ETFs at once. In June, her ARK Invest reported that the company was first in line for potential bitcoin-ETF approval. Since it was the earliest to submit an application to the SEC. $ETH