SEC faces surge in filings for Ethereum futures ETFs
SEC faces surge in filings for Ethereum futures ETFs
The U.S. Securities and Exchange Commission (SEC) has seen a boom in filings for Ethereum-based futures ETFs. The SEC received three new applications on Thursday, bringing the total to 11.
ProShares and Bitwise submitted three ETF applications. ProShares filed for a Bitcoin and Ether Strategy ETF and a Bitcoin and Ether Equal Weight Strategy ETF. Bitwise filed for a Bitcoin and Ether Equal Weight Strategy ETF.
A BTC and ETH Equal Weight ETF is needed to track the performance of long positions in the near-term monthly maturities of Bitcoin and Ether futures contracts.
ProShares has also filed four separate applications for Ethereum-based ETFs, including a dual BTC and ETH futures strategy ETF, a short Ether Strategy ETF, and an Ether Strategy ETF.
According to Coincu, the boom in Ether ETF filings began with Volatility Shares following the July 28 filing for the Ethereum-based ETF.
This was followed by filings for Ether futures from Bitwise Asset Management, Roundhill Financial, Van Eck, and Grayscale Investments on August 1.
As a result, 11 applications for Ethereum-based ETFs were filed in 7 days, confirming the growing interest in crypto products for investment.
While only Bitcoin futures ETFs are allowed to invest in the U.S. for now, many companies are interested in spot Bitcoin ETFs, and the crypto community is awaiting the SEC's decision on them.
While the SEC reviews these applications, companies are counting on the approval of Ether-based ETFs, which could further boost the adoption and accessibility of cryptocurrencies for investors.
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