Ethereum Futures ETFs could roll out this week

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Ethereum Futures ETFs could roll out this week

It was the second-largest crypto asset by market capitalization on Thursday, after analysts predicted that the Ethereum futures ETF application might be approved and could start rolling as early as Tuesday next week.

The value of Ether rose 3.13% on Thursday from its previous price of $1,58419, hinting at an upward trend, according to data from CoinMarketCap.

Throughout this week, Ether experienced substantial gains, a 4.6% surge at the beginning of the week, highlighting the crypto asset's most profitable since July.

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

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

Bachunas said on his Facebook page on Thursday in a post on X.

They will launch schedule to get them out before a possible shutdown. If that is so, 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 funding 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 4:16 p.m. on Monday, down from $1,674.82 a day earlier. ET on Friday, with a 24 hour trading volume rising by 16.05% at $7,254,195,536 - a 3.61% increase in the past 24 hours and a 4.8% gain in 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.