Bloomberg ETF analysts Eric Balchunas and James Seyffart have raised the odds of the US Securities and Exchange Commission (SEC) approving Ethereum futures ETFs to 75%, according to a note released Friday.
Analysts cited the recent increase in 12 filings with the SEC as reasons for their positive outlook, as well as the marked change in the regulator's stance towards crypto.
According to analysts, the SEC's attitude towards cryptocurrencies is changing.
The SEC has already approved several Bitcoin futures ETFs. Balchunas and Seyffart believe they will face legal challenges if the SEC rejects Ethereum futures ETFs after allowing Bitcoin futures ETFs with similar characteristics and risks.
“Ethereum Futures ETF Applications Acceptable in October”
Analysts also noted that October, which represents two years after the launch of Bitcoin futures, could be the month when Ethereum futures ETFs will be released.
On the other hand, James Seyffart said in his statement that if both the Bitcoin Spot ETF are approved and the futures Ethereum ETFs are approved, it will only be a matter of time before the ETH Spot ETF is also approved.
To give the date, he stated that the ETH Spot ETF can be accepted within the nearest 260 days after the futures ETF application is accepted.
However, they warned that there are still many uncertainties and hurdles for crypto ETFs, such as the SEC's stance on Ethereum's status as a security or commodity.
*Not investment advice.
