Ether Ethereum Futures ETFs could roll out next week

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Ether Ethereum Futures ETFs could roll out next week

Ether, the world's second-largest cryptocurrency by market capitalization, experienced a massive surge Thursday when analysts predicted that the Ethereum futures ETF application might be approved and could begin rolling as early as Tuesday next week.

The value of Ether rose to $1,643.92 from its previous price of $1,584.19, according to data from CoinMarketCap, hinting at an upward trend.

In this week, Ether experienced significant gains, which saw a 4.6% surge at the start of the week, making the crypto asset's most profitable since July.

The positive price movement could be attributed to the anticipation surrounding the Ethereum Futures ETF applications, which, according to analysts, could launch as early as next week.

Bloomberg ETF analysts Eric Balchunas and James Seyffart predicted that ETH futures could start trading by next Tuesday, citing the SEC's decision to the looming federal government shutdown.

In a post on X, Mr. Bachunas said the president's stance on monetary policy was in a sense of remembrance.

It will launch a schedule to get them out before a possible shutdown. If this happens, issuers would likely have to submit a final prospectus this week so they could go effective as soon as Oct. 2. This would be bad news for smaller issuers that lack the resources or infrastructure to move as quickly on logistics as bigger rivals, the analysts said.

Good sign we were right about the accelerated launches, Balchunas said in another post, highlighting their prediction about early approval of ETF futures could be accurate.

ETH was trading up at $1,674.82 as of 5:16 a.m. on Friday, a rise of more than half a percent. ET on Friday, with a 24 hour trading volume up by 16.05% at $7,254,195,536 - representing a 3.61% increase in the last 24 hours and a 4.8% gain over the past seven days.

The value of ETH is 120,236,031 ETH, with its value up by 3.64% at a $201,374,208,245 market cap, according to CoinMarketCap data.