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The United States Securities and Exchange Commission is reportedly on the verge of greenlighting an Ethereum futures ETF, possibly as early as the coming week, according to insights from Bloomberg analysts. This move comes amid the looming threat of a US government shutdown. If Congress fails to agree on the budget for the upcoming fiscal year by October 1.

Accelerated Approval

Eric Balchunas, a seasoned ETF analyst at Bloomberg, shared on X that the financial watchdog is keen on fast-tracking the launch of Ether futures ETFs ahead of the potential government halt.

This statement follows a recent note to investors that placed the likelihood of an ETH Futures approval in October at a staggering 90%.

Balchunas further disclosed that multiple filers have been instructed to amend their documents by the end of the week. Aiming to commence trading by Tuesday, October 3. This sentiment was echoed by another Bloomberg analyst. James Seyffart, who in a separate post, hinted at the SEC’s inclination to approve several Ethereum futures ETFs in the coming week.

The analysts didn’t reveal their sources, but the urgency appears tied to a potential government shutdown by October 1.

The SEC has received a total of 15 applications for Ethereum futures ETFs from nine distinct issuers, including notable names like VanEck, BitWise, ProShares, Grayscale, among others. The analysts from Bloomberg speculate that Valkyrie’s Bitcoin Futures ETF might be the first to introduce Ethereum exposure by October 3.

Bitcoin Spot ETF Outlook

On a related note, investors hopeful for a Bitcoin (BTC) spot ETF may have to bide their time. The SEC has not yet shown any signs of approval in this regard. Nonetheless, amidst this regulatory momentum, a group of lawmakers, spearheaded by House Representatives Mike Flood, Tom Emmer, Ritchie Torres, and Wiley Nickel, have rallied together to urge the SEC to extend its approval towards a Bitcoin spot ETF.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.