Flood of Ethereum Futures Exchange-Traded Funds Could Launch Tomorrow

It has been just revealed the fact that a flood of ETH futures ETFs could be launching tomorrow. Check out the latest reports about this below.

According to Bloomberg ETF analyst James Seyffart, starting on October 2nd, there could be a flood of Ethereum (ETH) futures ETFs entering the market.

Seyffart shared in a social media thread that nine different financial firms, including VanEck, Bitwise, Proshares, Vol Shares, Hashdex, and Valkyrie, are preparing to launch these ETFs.

He believes it will be an eventful day, describing it as “crazy.” However, Seyffart also noted that companies like Grayscale, who are interested in issuing Ethereum ETFs, have yet to submit updated filings and may not do so.

Here are some of the notes revealed by the online publication the Daily Hodl:

“The only potential issuers that have not yet submitted updated filings are Direxion, Roundhill, and Grayscale. It’s likely that some or all of them are just not going to bother.”

There is speculation that the early launch of ETFs is due to concerns about a potential government shutdown, as reported by Seyffart. One such ETF is being prepared by global investment manager VanEck, which will focus on ETH futures contracts traded on registered commodity exchanges rather than investing in Ethereum itself.

The ETF will be listed on the Chicago Board Options Exchange (CBOE) and will only invest in ETH futures traded on the Chicago Mercantile Exchange.

VanEck expects the fund to become effective on October 3, 2023 or when the U.S. Securities and Exchange Commission (SEC) accelerates the effectiveness of the registration statement, according to a statement released by the company in September.

Stay tuned for more crypto and financial news and make sure to check out the markets as well because there are all kinds of optimistic predictions.