Prospects Brighten for First US Ether ETF as Approval Date Nears

• On July 28, Volatility Shares submitted paperwork for its Ether Strategy ETF.
• Analyst Balchunas is confident in an Ether ETF approval rate of 95%.

Bloomberg’s senior ETF analyst Eric Balchunas said that on October 12, 2023, Volatility Shares will introduce the Ether Strategy ETF (Ticker: ETHU). It will be the first exchange-traded fund (ETF) to provide institutional investors in the U.S. with exposure to Ether. However, the US SEC has not yet approved Volatility Shares. On the other hand, Eric Balchunas thinks the prospects of approval are rather strong.

On July 28, Volatility Shares submitted paperwork for its Ether Strategy ETF. Taking into account the required 75 days for approval, it is possible that it will be granted on October 12.

All Eyes on U.S SEC

Some of the world’s most prestigious financial institutions have entered the fray for Ether Futures exchange-traded funds. However, so far, no Ether Futures exchange-traded fund (ETF) has been approved for trading by the SEC as of yet.

Bitwise has converted its Bitcoin Strategy Optimum Roll ETF application to an Ether and Bitcoin Equal Weight Strategy ETF. The rising interest in Ethereum Futures ETFs is highlighted by this fact. Ethereum Futures ETFs are more likely to launch than spot Bitcoin ETFs, analyst Eric Balchunas said earlier this month.

According to Bloomberg, the chances of the US SEC approving a spot Bitcoin ETF this year have increased from 50% a few weeks ago to 65% now. Nonetheless, they predict a 75% chance of Ethereum ETF acceptance. Balchunas, on the other side, is confident in an Ether ETF approval rate of 95%.

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