A pair of Bloomberg exchange-traded fund (ETF) analysts think there’s a 75% chance an Ethereum (ETH) futures ETF gets approved in the US this year.
James Seyffart and Eric Balchunas say the odds of approval spiked amid a flood of Ethereum futures ETF application submissions to the U.S. Securities and Exchange Commission (SEC).
“The odds of Ethereum futures ETFs hitting exchanges this year have risen dramatically to 75%, in our view, after a spurt of 12 applications to the SEC in recent days. The SEC appears to be changing its posture toward crypto, based on reports of its back-channel messaging to ETF issuers. Also, we believe the SEC would have a hard time in court defending the denial of Ethereum futures ETFs after approving standard and leveraged Bitcoin futures ETFs.”
No US Bitcoin spot ETF applications have been greenlit thus far, though the crypto world eagerly awaits the SEC’s decision on a June application from BlackRock, the world’s largest asset manager.
A spot Bitcoin ETF would give investors exposure to the crypto asset through a brokerage firm, much like commodities such as gold.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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