Bloomberg: SEC on the Verge of Approving Several Ethereum Futures ETF Applications

According to a report by Bloomberg, the US Securities and Exchange Commission (SEC) is reportedly on the verge of granting approval for a number of exchange-traded funds (ETFs) applications based on Ethereum futures. This would be a significant victory for numerous firms that have applied to offer such investment products to the public.

Insiders familiar with the matter suggest that the SEC is leaning towards allowing the creation of these ETFs. A handful of companies, including well-known names like Volatility Shares, Bitwise, Roundhill, and ProShares, are among those that have already submitted applications to launch these ETFs.

The news had an immediate impact on the price of Ethereum, which surged 11% shortly after the news broke. This price uptick occurred despite a broader market downturn that had taken place just hours prior.