SEC to Approve Ethereum Futures ETF: Analysts Estimate 75% Chance in 2023

  • Analysts estimate there is a 75% chance an Ethereum (ETH) futures ETF will be approved by the US Securities and Exchange Commission (SEC) in 2023.
  • The increase in odds is due to a flurry of Ethereum futures ETF applications submitted to the SEC.
  • The SEC approved its first Bitcoin (BTC) futures ETF two years ago, but has yet to approve a spot Bitcoin ETF.

Ethereum Futures ETF Likely To Be Approved

Analysts James Seyffart and Eric Balchunas believe there’s a 75% chance that the US Securities and Exchange Commission (SEC) will approve an Ethereum (ETH) futures exchange-traded fund (ETF) this year. This expectation comes after numerous applications for such funds have been made recently.

Applications Spiked Last Month

Seyffart and Balchunas reported that 12 applications for Ethereum futures ETFs were submitted to the SEC in recent days, spiking the likelihood of approval this year. They also noted that it would be difficult for the SEC to defend denying these requests considering they already approved both standard and leveraged Bitcoin future ETFs.

Likely To Be Approved In October

Balchunas predicts that an Ethereum futures ETF will get approved in October, two years after the approval of the first Bitcoin (BTC) futures fund. Even though no US Bitcoin spot ETF applications have been accepted thus far, industry experts are eagerly awaiting news from BlackRock on their June application – which if approved would allow investors to gain exposure to crypto assets through brokerage firms similarly to commodities such as gold.

SEC Appearing Open To Crypto Assets

The analysts believe that with these recent moves by the SEC, it appears as though they are changing their posture towards cryptocurrency assets – indicating openness towards them as investments rather than just speculative investments or currencies used for illicit activities.

Final Thoughts

It is clear from these developments that the crypto sphere is rapidly evolving into mainstream investment products, with more traditional financial institutions becoming interested in providing access to digital assets such as bitcoin and ethereum . As regulatory clarity continues to improve over time, we can expect further advancements in this space which could possibly open up even more opportunities for investors everywhere.

SEC to Approve Ethereum Futures ETF: Analysts Estimate 75% Chance in 2023
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