Ethereum ETFs Countdown Has Begun, The Ball Is Now in the SEC's Court: What to Expect?

Fund management companies Bitwise and ProShares have submitted an updated version of their Bitcoin (BTC) and Ethereum (ETH) futures exchange-traded fund (ETF) to the regulator.
Bloomberg ETF analyst James Seyffart noted that Bitwise has filed an updated prospectus with the U.S. Securities and Exchange Commission (SEC) for its ETF, which invests equally in Bitcoin and Ethereum futures. However, another investment firm has filed an application to be traded as a forward Bitcoin and Ethereum ETF on ProShares. Both applications are expected to be approved next week.
ProShares also has a separate application called EETH, which offers a forward-only Ethereum ETF. If the ETF application submitted by Bitwise is approved, it will be traded on the stock exchanges with the code BTOP. ProShares' ETF will be traded under the code BETH.
VanEck recently converted its ETF application, which was only for Bitcoin futures transactions, and introduced a new ETF that invests in equal shares in both Bitcoin and Ethereum. The investment firm submitted the final version of the application to the regulatory authority on September 29.
On the other hand, other companies that applied for Ethereum futures ETF also submitted their updated applications to the SEC. Analyst Seyffart expects almost all ETF applications to begin processing with approval on Monday, October 2.
Seyffart had previously stated that the SEC had accelerated the approval of such ETF applications despite a possible shutdown of the US government, and wrote that futures Ethereum ETFs would be approved as soon as possible.
Expectations that forward Ethereum ETF applications could be approved in the first week of October made investors happy by increasing the Ethereum price by 6% in the last 3 days. With the increase experienced the other day, "short" positions worth 15 million dollars were liquidated.
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