Are we on the cusp of a new era for the crypto industry in the US? Recent developments suggest so, with the prospect of ETC ETF approval nearing and the green light for Coinbase to offer futures trading. The buzz around these advancements indicates a promising shift in the regulatory landscape.
Renewed Progress in the Crypto Sphere
Following a period marked by regulatory hurdles, the crypto industry in the US has seen significant strides. Notably, Coinbase has been granted permission to offer futures trading, marking a significant milestone. This development paves the way for eligible US customers to engage in leveraged and cash-settled Bitcoin and Ethereum futures.
“Coinbase Financial Markets will soon facilitate convenient access to futures,” relayed Greg Tusar, Coinbase’s Institutional Product leader. Previously, futures were exclusively accessible to brokers and market makers via the Coinbase Derivatives Exchange. Now, however, the trading of futures will be made possible directly through the Coinbase interface.
Anticipation of Ethereum Fund Approval
Moreover, there are rumblings that the SEC might be gearing up to approve an Ethereum fund linked to Ether futures contracts. This would be a significant breakthrough for entities seeking to offer such investment products. In the current month alone, the SEC has seen proposals from seven different funds, including Valkyrie, VanEck, Grayscale, Bitwise, ProShares, Roundhill, and Volatility Shares.
Volatility Shares stands first in line for SEC decision, which is expected by October 10. Despite these promising developments, Coinbase shares have seen a 9% drop over the past week, according to data from Yahoo! Finance.
Embracing the Future of Crypto
The potential approval of an Ethereum fund and the authorization of futures trading by Coinbase are clear indicators of the growing acceptance of cryptocurrency. As this landscape continues to evolve, staying informed becomes crucial.
One such tool that can assist in navigating these waters is cryptoview.io, a comprehensive platform offering a wealth of information on the ever-changing crypto market.
