Ethereum surges 11% after report SEC is set to approve Futures ETF

The price of Ether (ETH) rose around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the very first exchange-traded funds (ETFs) based on Ether Futures.According to an Aug. 17 report from Bloomberg– which pointed out confidential sources knowledgeable about the matter– the regulator does not look as though it will obstruct the applications of nearly twelve companies, consisting of ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in current weeks. Breaking The SEC is expected to green light an ETH futures ETFThe beginning of something potentially enormous here … pic.twitter.com/x9KtOpCqei— Bankless (@BanklessHQ) August 17, 2023

The SEC has been swamped with applications for Ether futures ETFs, with more than 12 filings for such items being sent to the regulator considering that late July. Related: Donald Trumps Ethereum wallet holds $2.8 M, brand-new statement showsThe news pushed ETHs price back up 11% to $1,717 simply 20 minutes after the market took a tumble 2 hours earlier.The price of Ether jumped 11% following the news that the SEC would approve Ether futures ETFs. Source: TradingViewBig Questions: Did the NSA produce Bitcoin?

It stays uncertain which ETF applications would be authorized by the SEC; nevertheless, authorities showed that several of the filings might be authorized by as soon as October.ETF analyst Eric Balchunas stated he wasnt amazed by the SECs move to authorize Ether futures ETFs, adding that the decision reveals how the regulators views on various items, such as a spot Bitcoin ETF can change over time.This not surprising to us, we had said they would authorize Ether Futures early on in race. Hard to state beyond it shows that their views/policy/tolerance can alter.