Volatility Shares plans to open trading in the first U.S. Ethereum futures ETF with 2x leverage. It's already June 4th. Reported by #Coindesk.
The ticker for trading has already been selected, #ETHU. But there is no approval from the SEC yet. True, the company talks about “positive negotiations.”
Speaking to #Coindesk, Volatility Shares chief investment officer Stuart Barton said his company's success in getting approval for a leveraged Ethereum ETF could help pave the way for eventual approval of spot Ethereum ETFs.
The SEC already approved key regulations related to spot funds last week, so the matter will likely not be delayed like the Bitcoin ETF.
True, after the approval last week of the first documents on spot Ethereum ETFs, there is still silence this week. There is no news yet from issuers, nor from the regulator, nor even from#BloombergETF experts.
The only comment all week came from Nate Gerasi, president of investment advisory firm ETF Store. He believes the SEC will approve the listing of spot Ethereum ETFs (Form S-1) in the next few weeks or “2-3 months tops.” The wording, which was already given by Bloomberg, is vague in terms of terms.#ETHbehaves generally stronger than#BTCin such uncertainty. The price is affected by expectations of approval and purchases from current ones. Weekends and Mondays generally gave a chance for growth with the update of the high on May 12th. But as a result, the price has been adjusted for the second day and you can remember the review from May 24:
“... The price of#ETHis still unchanged - a descending structure with the nearest important support in the area of \u200b\u200b$3,424. Until the price can consolidate above $3,802, the priority from the current ones is downward...”
The only thing that has changed is that the downward structure broke down on the daily TF over the weekend. But if today the daily candle is not closed above the volume level of $3,802, the price will most likely continue its downward movement towards that same target in the area of $3,424.
