SEC Likely to Approve Multiple Ethereum ETFs: Crypto Futures on the Rise
• The US SEC is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs).
• Coinbase has received approval from the United States National Futures Association to offer investments in crypto futures.
• U.S. Judge Analisa Torres has granted a request from the SEC to file a motion for leave to file an interlocutory appeal in its case against Ripple Labs.
Coinbase Receives Approval for Crypto Futures
The United States National Futures Association (NFA) has approved Coinbase’s request to offer investments in crypto futures on its Commodity Futures Trading Commission-regulated derivatives exchange. This will enable eligible customers to access Bitcoin (BTC) and Ether (ETH) futures contracts.
SEC Likely to Approve Multiple ETF Applications
The Wall Street Journal reported that the U.S. Securities and Exchange Commission is likely to approve multiple applications for Ether futures exchange-traded funds simultaneously. Asset management firm Valkyrie is among the companies filing for crypto ETFs, seeking not to directly invest in Ether but purchase several ETH futures contracts with a maximum of 8,000 contracts per month.
SEC Allowed To Appeal In Ripple Case
U.S Judge Analisa Torres granted the SEC permission to file a motion for leave to launch an interlocutory appeal in its case against Ripple Labs after Ripple voiced opposition due to no new legal issues needing review raised by the regulator’s claim of an incorrect court ruling during proceedings.
Singapore Gets Regulatory Framework For Stablecoins
Singapore’s central bank released a revised regulatory framework designed ensure stability for single-currency stablecoins regulated within its jurisdiction and protect retail consumers from risks associated with their usage while boosting innovation in the sector through digital payment token licensees .
Conclusion
The news shows that cryptocurrencies are slowly becoming mainstream as more institutions seek ways of investing into them safely and securely via regulation and licensing efforts by government authorities which could bring significant changes in how cryptos are viewed globally over time .
