Ahead of the potential US authorities shutdown, the U.S. Securities and Exchange Commission (SEC) is reportedly accelerating the launch of the Exchange-Traded Funds (ETF). If issues go as deliberate, the Valkyrie Bitcoin and Ether ETF could possibly be launched by subsequent week, in keeping with Bloomberg analysts.
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Valkyrie Bitcoin and Ether ETF Launch
Earlier, Bloomberg analysts Eric Balchunas and James Seyffart reported that the Ethereum Futures ETFs have a 90% probability of launching in October 2023. They additionally predicted that Valkyrie Bitcoin futures ETF ($BTF) is ready to develop into the primary to carry Ethereum publicity on October 3, 2023. Earlier, CoinGape reported that Valkyrie submitted a Form 497 with a plan to transform BTF right into a twin Bitcoin and Ether Exchange-Traded Fund.
In a contemporary, analyst Balchunas stated that within the context of the potential US authorities shutdown, the US SEC needs to speed up the launch of the Ethereum futures ETFs. This could possibly be a transfer focused at ending the job earlier than a overwhelming majority of the SEC workers develop into unavailable if the shutdown kicks in.
“Hearing the SEC wants to accelerate the launch of Ether futures ETFs (because they want it off their plate before shutdown) so they have asked the filers to update their documents by Friday afternoon.”
During the US House Financial Services Committee hearing on the oversight of the SEC, Chair Gary Gensler stated that the Commission could possibly be working solely with a skeletal workers construction ought to the US authorities shutdown take impact.
Other Ethereum ETF Filings
Hence, the Volatility Shares Ethereum futures ETF launch, which was initially anticipated for October 11, might possible be delayed owing the shutdown. On September 20, 2023, Grayscale had as soon as once more submitted an utility to create an Ethereum Futures ETF.
Also Read: SEC Chair Gets Subpoena Threats; Is Gary Gensler Hiding Info on FTX?
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