Starting on a thrilling note, James Seyffart’s tweet sheds light on the heightened anticipation surrounding Ethereum futures ETFs. He mentions, ” It’s been 13 days since Volatility Shares initiated the recent surge of #Ethereum futures ETF filings. The longer the SEC waits, the better the odds of launching.”
We're in new territory. It's been 13 days since Volatility Shares was first in a wave of #Ethereum futures ETF filings. Back in 2021 it was just a couple days before SEC forced withdrawals and was just ~7 days in May of this year. The odds of launching increase as time goes by pic.twitter.com/RJPLRr0RW3
— James Seyffart (@JSeyff) August 10, 2023
A Tactical Play in the ETF Race
Bitwise Invest, in a groundbreaking decision, has submitted an updated prospectus. Their intention? To metamorphose their Bitcoin futures ETF, referred to as BITC, into the “Bitwise Bitcoin and Ethereum Equal Weight Strategy ETF”. Scheduled to be active from October 9, 2023, industry experts see this as a shrewd maneuver. It’s a bid to be the frontrunner in unveiling the US’s first Ethereum Futures ETF.
James Seyffart, known for his insights as a Bloomberg ETF analyst, threw light on this maneuver,
“Bitwise’s move is reminiscent of Valkyrie Funds’ recent strategy. The targeted date for this transition is 10/9/23.” Notably, Seyffart had previously appraised Valkyrie’s decision as an astute “3D chess move”, contingent on its success.
SEC’s Growing Ethereum ETF Lineup
The US Securities and Exchange Commission (SEC) is currently awash with a whopping 15 Ethereum futures ETFs on its decision desk. This includes an intriguing mix of 13 brand new proposals and 2 transformational proposals, those of industry leaders, Bitwise and Valkyrie. The ambition is clear – sidestep the customary queue. The prize? The highly sought-after title of being the pioneer through these strategic conversions. With each passing day, the optimism for SEC’s nod of approval grows exponentially.
Buy Ethereum (ETH) quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<Offering a broader perspective on the unfolding scenario, Seyffart opined,
Echoing similar sentiments, Eric Balchunas, senior ETF analyst for Bloomberg, observed the current tactics saying,
As of now, Valkyrie is leading the charge with its Bitcoin & Ether Strategy ETF (BTF), eagerly awaiting the SEC’s judgment by Oct. 3. Hot on its heels is Bitwise, aiming for an SEC decision on their conversion application by October 9. Volatility Shares’ Ether Strategy ETF (ETHU) is queued for a decision on Oct. 11.
The frenetic pace of advancements in the Ethereum-based ETF domain underscores a burgeoning market, coupled with an escalating institutional allure for Ethereum. As this intense competition unfolds, all eyes are riveted on which entity will clinch the title for the first Ethereum futures ETF in the US – a milestone that could potentially buoy the entire crypto market.
Currently, Ethereum’s trading value hovers between $1,822 and $1,882.
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Ethereum’s Big Moment: Anticipation Builds for US Futures ETF Launch
Starting on a thrilling note, James Seyffart’s tweet sheds light on the heightened anticipation surrounding Ethereum futures ETFs. He mentions, ” It’s been 13 days since Volatility Shares initiated the recent surge of #Ethereum futures ETF filings. The longer the SEC waits, the better the odds of launching.”
A Tactical Play in the ETF Race
Bitwise Invest, in a groundbreaking decision, has submitted an updated prospectus. Their intention? To metamorphose their Bitcoin futures ETF, referred to as BITC, into the “Bitwise Bitcoin and Ethereum Equal Weight Strategy ETF”. Scheduled to be active from October 9, 2023, industry experts see this as a shrewd maneuver. It’s a bid to be the frontrunner in unveiling the US’s first Ethereum Futures ETF.
James Seyffart, known for his insights as a Bloomberg ETF analyst, threw light on this maneuver,
SEC’s Growing Ethereum ETF Lineup
The US Securities and Exchange Commission (SEC) is currently awash with a whopping 15 Ethereum futures ETFs on its decision desk. This includes an intriguing mix of 13 brand new proposals and 2 transformational proposals, those of industry leaders, Bitwise and Valkyrie. The ambition is clear – sidestep the customary queue. The prize? The highly sought-after title of being the pioneer through these strategic conversions. With each passing day, the optimism for SEC’s nod of approval grows exponentially.
Echoing similar sentiments, Eric Balchunas, senior ETF analyst for Bloomberg, observed the current tactics saying,
As of now, Valkyrie is leading the charge with its Bitcoin & Ether Strategy ETF (BTF), eagerly awaiting the SEC’s judgment by Oct. 3. Hot on its heels is Bitwise, aiming for an SEC decision on their conversion application by October 9. Volatility Shares’ Ether Strategy ETF (ETHU) is queued for a decision on Oct. 11.
The frenetic pace of advancements in the Ethereum-based ETF domain underscores a burgeoning market, coupled with an escalating institutional allure for Ethereum. As this intense competition unfolds, all eyes are riveted on which entity will clinch the title for the first Ethereum futures ETF in the US – a milestone that could potentially buoy the entire crypto market.
Currently, Ethereum’s trading value hovers between $1,822 and $1,882.
Best Crypto Exchange for Everyone: