Ethereum’s price has witnessed a significant surge

Ethereum’s price has witnessed a significant surge of approximately 11%, reaching $1,700, following reports suggesting that the U.S. Securities and Exchange Commission (SEC) is on the verge of approving the first-ever exchange-traded funds (ETFs) based on Ethereum futures. This information, reported on August 17 by Bloomberg, is based on anonymous sources who are privy to the developments.

The SEC seems to be in no mood to obstruct the applications of nearly a dozen companies, including big names like ProShares, Volatility Shares, Bitwise, and Roundhill. These firms have recently submitted their applications to introduce Ethereum futures ETFs. While it’s still ambiguous which specific ETF applications will get the green light from the SEC, indications from officials suggest that multiple filings could be approved as early as October.

ETF Newz Says:

Eric Balchunas, an ETF analyst, expressed that he wasn’t taken aback by the SEC’s inclination towards approving Ethereum futures ETFs. He further commented that this move is indicative of the evolving stance of the regulator, highlighting how their perspective on various products, such as a spot Bitcoin ETF, can shift over time.

Heavily Traded ETFs
SPDR S&P 500 - SPY
Invesco QQQ
Vanguard S&P 500 - VOO
Vanguard Total Market - VTI
Energy Select Sector - XLE

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