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INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out Sep 29, 10:23 AM EDT World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion NEWSLETTER My account Log Out US Edition World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion Listings & More Spotlight Glossary Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Crypto Crypto Business Ether Price Sees Massive Gain As Ethereum ETFs Could Launch In US Next Week By Nica Osorio @nicaIBTimes 09/29/23 AT 6:22 AM EDT Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Cryptocurrency coins including Ethereum, Bitcoin, Ripple, and Litecoin on a scattered pile of U.S. 100 dollar bills. QuoteInspector.com/flickr Ether (ETH), the world's second-largest crypto asset by market capitalization, saw a massive gain Thursday after analysts predicted that the Ethereum futures ETF application might be approved and could start rolling as early as Tuesday next week. Ether traded in the green zone at $1,643.92 Thursday, showing a 3.13% increase from its previous price of $1,584.19, hinting at an upward trend, according to data from CoinMarketCap. Throughout this week, Ether experienced significant gains which saw a 4.6% surge at the start of the week, with the recent surge highlighting 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, crediting the SEC's decision to the looming federal government shutdown. "Ether futures ETFs could be trading as early as Tuesday as SEC looks to speed things up in order to get it done bf looming shutdown, just like they sped up delays on spot bitcoin ETFs," Bachunas said in a post on X on Thursday. In their analysis, both Bloomberg ETF analysts said that "Ether futures ETFs could be trading in the US as early as Oct. 3, we believe, if the SEC tries to get them out before a possible government shutdown. A series of recent moves show the agency is looking to clear its plate, including delaying multiple spot Bitcoin ETFs weeks before any decision was due." "The SEC might seek to accelerate Ether ETFs' launch schedule to get them out before a possible shutdown. If 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 money or infrastructure to move as quickly on logistics as bigger rivals," the analysts added. NEW: Ether futures ETFs could be trading as early as Tuesday as SEC looks to speed things up in order to get it done bf looming shutdown, just like they sped up delays on spot bitcoin ETFs. If so, issuers likely in mad scramble as we speak to update docs. Stay tuned. @JSeyff pic.twitter.com/onTpS3r53m — Eric Balchunas (@EricBalchunas) September 28, 2023 "VanEck just put our press release for their "upcoming" Ether futures ETF which they now have ticker for $EFUT. 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. JUST IN: VanEck just put our press release for their "upcoming" Ether futures ETF which they now have ticker for $EFUT . Good sign we were right about the accelerated launches. Here we go.. pic.twitter.com/dxOZlMTTvX — Eric Balchunas (@EricBalchunas) September 28, 2023 ETH was trading up at $1,674.82 as of 5:16 a.m. 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. ETH's circulating supply stands at 120,236,031 ETH, with its value up by 3.64% at a $201,374,208,245 market cap, data from CoinMarketCap showed. Read more Ethereum Futures ETFs Could Start Trading Next Week Despite BTC ETF Decision Delay: Analysts Tether Addresses Alleged Singapore TOS Change, Dismisses Cake DeFi CEO's Claim As FUD BONE's Binance Listing Imminent? Shibarium Gas Token Value Surges Following Shiba Ecosystem's Crucial Announcement © Copyright IBTimes 2023. All rights reserved. Join the Discussion MOST READ IN Crypto 1 Tether Addresses Alleged Singapore TOS Change, Dismisses Cake DeFi CEO's Claim As FUD 2 SEC Requests For Do Kwon's Extradition To US, Terraform Labs Co-Founder Pushes Back 3 Ethereum Futures ETFs Could Start Trading Next Week Despite BTC ETF Decision Delay: Analysts 4 After Securing EU E-Money License, Kraken Reportedly Plans To Offer US-Listed Stocks Trading 5 Justin Sun 'Confident' In HTX's Ability To Recover Funds, Gives No Update On $8M Hack NEWS World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion Featured Social Capital Glossary SMB Forum Spotlight ABOUT About Us Contact us Advertise with us Terms & Conditions Privacy Policy Cookie Policy Editions United States Australia Brazil Colombia France Germany Indonesia India International Italy Editions Japan Nigeria Singapore South Africa South Korea Spain Mexico United Kingdom FOLLOW US Facebook Twitter LinkedIn Newsletter © Copyright 2023 IBTimes LLC. 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