Ethereum ETF Race Gains Steam, Six Asset Managers Filed With SEC

Eric Balchunas, Bloomberg's senior analyst for exchange-traded funds (ETFs), and his colleague James Seyffart summarized all approval requests for Ethereum (ETH) futures ETFs that are under review by the U.S. Securities and Exchanges Commission.

VanEcks, ProShares, Grayscale, who else? Six Ethereum ETFs might be approved by October

Bitwise, Roundhill, VanEck, ProShares and Grayscale submitted their Ethereum Futures ETF filings with the SEC yesterday, Aug. 1, 2023. Volatility Shares filed with the regulator on July 28. Thus, six packages of Ether Futures ETF documents are being processed by the watchdog.

Here's fresh update of the Ether Futures ETF Race, which now has SIX in the running.. nice job by @JSeyff for putting together so quickly pic.twitter.com/G1rwwfaFoS

— Eric Balchunas (@EricBalchunas) August 1, 2023

ProShares even filed with SEC for two products: ProShares Short Ether Strategy ETF and ProShares Ether Strategy ETF.

These statistics were shared by Bloomberg's Eric Balchunas in his Twitter account. All requests are labeled with "Awaiting Approval" status. The deadline for the SEC to declare its verdicts is in mid-October 2023.

The commentators below the announcement are also waiting for $9 trillion asset management giant Blackrock to join the club of six Ethereum Futures ETF pioneers in the U.S.

As covered by U.Today previously, the world's first exchange traded fund backed by "physical" Ethereum (ETH) was launched in Canada in April 2021.

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World's First Ethereum ETF to Go Live Today

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Local asset manager Purpose Investments with $15 billion in AUM released this ETF on Toronto Stock Exchange.

Experts are optimistic about ETFs outside Bitcoin (BTC)

Futures and spot ETFs on cryptocurrencies are considered as game-changers for the investment world. They will eliminate the necessity for companies to store Bitcoin (BTC) and Ethereum (ETH) physically in digital custody.

As such, wealth managers will be able to invest in crypto just like they do with "regular" exchange-traded products. This, in turn, might trigger the injection of capital into the sphere and can be a possible catalyst for a cryptocurrency bull run.

As covered by U.Today, seasoned crypto VC Vance Spencer stressed that the launch of a spot Bitcoin (BTC) ETF would result in many other crypto-based products being greenlighted.

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These major announcements might land as soon as this year, he opines.