As Bloomberg reports, citing sources familiar with the situation, the U.S. Securities and Exchange Commission (SEC) is poised to approve the first applications for ether futures ETFs.
The sources said it is not yet possible to say which funds will get approval, but there could be several approved applications as early as October this year.
There are now 11 applications pending before the SEC to launch ether futures ETFs. Volatility Shares was launched by Volatility Shares, which filed on July 28th.
Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares and Grayscale Investments have also filed their SEC filings.
If the SEC approves the filings, the first ETF for ether futures will likely appear on Oct. 12. On the back of this news, the price of ETH rose about 11% to $1,700.
Earlier, former CFTC lawyer Mike Selig suggested that if spot bitcoin ETFs are allowed to launch in the U.S., exchange-traded funds tied to ether and the Ripple cryptocurrency are next in line.