Report: SEC on Cusp of Approving Ethereum Futures Amidst Crypto Market Rollercoaster
The
U.S. Securities and Exchange Commission (SEC) is said to be on the verge of greenlighting futures products tied to
ethereum (ETH), as per a Bloomberg report. One insider privy
to the development indicated that a handful could secure approval come
October.
In recent weeks, a consortium of firms, including
Valkyrie, Roundhill, Proshares, Grayscale, Vaneck, Volatility Shares, and Bitwise, have submitted applications to roll out
ethereum (ETH)-based futures products.
While
these insiders remained tight-lipped about potential approvals, there’s buzzing speculation that green lights might emerge in
October. This anticipated move has been warmly received by ETH aficionados, who see it as a boon for the crypto world’s runner-up.
However, Thursday
wasn’t all rosy for ETH. The cryptocurrency took a hit after Bitcoin’s abrupt plunge below the
$26K mark. ETH diminished by
6% vis-à-vis the U.S. dollar in 24 hours and 9% over the week.
