According to Bloomberg, in a key development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is reportedly set to allow the launch of exchange-traded funds (ETFs) based on Ethereum (ETH) futures. This move marks a significant win for numerous firms that have long sought to introduce such products. While the SEC has previously hesitated to approve ETFs directly tied to cryptocurrencies, the decision to greenlight an Ethereum futures ETF could have profound implications for Ethereum’s classification as a non-security. This development also holds potential ramifications for other cryptocurrencies, as the SEC’s stance on where the line between security and non-security lies becomes a subject of litigation. Ethereum Paradigm Shift According to Bloomberg’s report, sources familiar with the matter claim the SEC is unlikely to block the ETFs based on futures contracts for Ethereum, which is currently the second-largest cryptocurrency by market capitalization. Related Reading: More Blood Ahead? Why Bitcoin Could Crash Further If It Loses $26,000 Nearly a dozen companies, including prominent names like Volatility Shares, Bitwise, Roundhill, and ProShares, have fil ..
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