Outlook Improves for Initial US Ether ETF as Approval Timeline Approaches

• On July 28, Volatility Shares filed documentation for its Ether Strategy ETF.
• Analyst Balchunas expresses confidence in a 95% approval likelihood for an Ether ETF.

According to Bloomberg’s senior ETF analyst Eric Balchunas, Volatility Shares is set to launch the Ether Strategy ETF (Ticker: ETHU) on October 12, 2023. This will mark the first exchange-traded fund (ETF) that offers institutional investors in the U.S. access to Ether. However, the U.S. SEC has yet to grant approval for Volatility Shares. Nonetheless, Balchunas believes the chances of approval are quite favorable.

On July 28, Volatility Shares filed documentation for its Ether Strategy ETF. Considering the necessary 75-day approval period, it is plausible that approval could be granted on October 12.

All Eyes on U.S SEC

Several of the globe’s leading financial institutions have engaged in the competition for Ether Futures exchange-traded funds. However, to date, no Ether Futures exchange-traded fund (ETF) has received trading approval from the SEC.

Bitwise has transitioned its Bitcoin Strategy Optimum Roll ETF application to an Ether and Bitcoin Equal Weight Strategy ETF. This shift underscores the growing interest in Ethereum Futures ETFs. Analyst Eric Balchunas noted earlier this month that Ethereum Futures ETFs are more likely to be launched compared to spot Bitcoin ETFs.

As reported by Bloomberg, the likelihood of the U.S. SEC approving a spot Bitcoin ETF this year has risen from 50% a few weeks ago to 65% currently. However, they estimate a 75% probability of Ethereum ETF approval. Balchunas, conversely, is optimistic about an Ether ETF approval rate of 95%.

Highlighted Crypto News Today:

Dubai Offers 90% Subsidy on Licenses for AI and Web3 Businesses