US Ethereum Futures – 75% Chance To Be Approved In 2023

Recently, there has been a surge in applications for Ethereum Futures in the US, and it appears that the outlook is positive. Check out the latest news below.

According to two Bloomberg analysts who specialize in exchange-traded funds (ETFs), the probability of an Ethereum (ETH) futures ETF being approved in the US this year is 75%.

James Seyffart and Eric Balchunas believe that the chances of approval have increased due to the influx of Ethereum futures ETF applications submitted to the US Securities and Exchange Commission (SEC).

Based on recent reports of 12 applications to the SEC, we believe the likelihood of Ethereum futures ETFs hitting exchanges this year has dramatically increased to 75%.

The SEC seems to be shifting its approach towards crypto, as evidenced by its back-channel messaging to ETF issuers.

In addition, we think it would be difficult for the SEC to justify denying Ethereum futures ETFs after approving standard and leveraged Bitcoin futures ETFs.

Balchunas predicts that the SEC will approve an Ethereum futures ETF in October, two years after the first Bitcoin (BTC) futures ETF was approved.

While no US Bitcoin spot ETF applications have been approved yet, the crypto community is eagerly waiting for the SEC’s decision on a June application from BlackRock, the world’s largest asset manager.

A spot Bitcoin ETF would allow investors to gain exposure to the crypto asset through a brokerage firm, similar to commodities like gold.

There are concerns that Ethereum may experience a major liquidation event soon.

Crypto analyst Nicholas Merten has pointed out that there is a significant possibility of Ethereum (ETH) dropping to much lower levels due to this event.

Merten, who hosts DataDash and has a substantial following of over 511,000 subscribers on YouTube, has warned that traders who used DeFi protocols and put up ETH as collateral may face pressure to close their positions if Ethereum prices decline.

Merten cautions that such a sell-off could trigger a significant downward move for ETH.