Six companies have applied to open futures ETFs on Ethereum
Date: 2023-08-03 Author: Karina Ziganova Categories: CRYPTO PAYMENTS, BUSINESS
The number of Ethereum futures ETF applications pending approval from the US Securities and Exchange Commission (SEC) has reached six.
These include Volatility Shares Ether Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, Proshares Short Ether Strategy ETF, and Grayscale Ethereum Futures ETF. Most of the firms submitted their fundraising applications on August 1st.
The very first ETF application, made on July 28, belongs to Volatility Shares Ether Strategy. The company garnered attention earlier in June by launching the first leveraged cryptocurrency ETF available in the US. By August 1, other firms joined the opening of the ETF - Bitwise, VanEck, Roundhill, ProShares and Grayscale.
Unless the SEC denies the requests, Ethereum ETFs will go live 75 days from the filing date. Thus, Volatility's ETF could appear as early as October 12th.
SEC to Consider Applications for Spot Bitcoin ETFs
On June 15, investment giant BlackRock submitted an application to the SEC to open a spot bitcoin ETF. WisdomTree, VanEck, Invesco and a few other companies have followed the example of the largest asset manager.
However, at the end of June, the regulator rejected the applications, calling them "insufficiently clear and exhaustive." According to the SEC, the companies did not provide enough information about how the data exchange will take place. Moreover, not a single request met the necessary requirements.
In the middle of last month, the SEC announced that it was considering applications to launch Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, and Invesco Galaxy Bitcoin ETF.
First bitcoin ETF
Meanwhile, Jacobi Asset Management said the first bitcoin ETF will hit Europe this month after a 12-month delay. The Jacobi Bitcoin ETF will be a cryptocurrency-backed centrally cleared financial instrument with custody backed by Fidelity Digital Assets.
According to the asset manager, they decided to launch the ETF now because there is a gradual change in demand compared to 2022. The launch was delayed due to concerns about the collapse of the Terra Luna cryptocurrency in May 2022 and the collapse of the FTX cryptocurrency exchange in November.
