Grayscale Investments, the world’s largest digital assets manager, has submitted an application for an Ethereum futures exchange-traded fund (ETF) to the United States Securities and Exchange Commission (SEC). This application has been filed under the Securities Act of 1933, a regulatory framework typically used for commodities and Bitcoin ETFs. This is the second application for Ethereum futures ETF and is different from the first one, which was filed under the Investment Company Act of 1940. Analysts are expecting the first Ethereum futures ETFs to come by October, which could potentially drive the ETH price to $2,000. Six applications for Ethereum ETFs have been submitted, and the SEC appears to be favorably disposed toward allowing their development. Companies seeking approval for these ETFs include Ether Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, ProShares Short Ether Strategy ETF, and the Grayscale Ethereum Futures ETF.After the strong selling pressure earlier this month, the Ethereum price has bounced back and is currently trading at $1,634 levels with a market cap of $196 billion. If Ethereum manages to maintain its support in the higher range between $1,600 and $1,630, it could enter a consolidation phase with an upper boundary at $1,700 before potentially breaking out towards levels exceeding $2,000. Traders should monitor for a buy signal, which could arise from the momentum indicator. New buy orders or additional purchases might be considered once the blue MACD line crosses above the red signal line on the four-hour chart.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 9 |
| People | None |
| Companies | Volatility Shares, VanEck’s Ethereum Strategy ETF, United States Securities and Exchange Commission, Bitwise Ethereum Strategy ETF, ProShares Short Ether Strategy ETF., Grayscale Investments, Roundhill Ether Strategy ETF, Ether Strategy ETF |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
