Ethereum Increases 11% Following News The SEC Will Soon Approve A Futures ETF

From the sources, the US Securities and Exchange Commission is unlikely to prevent the launch of Ethereum futures ETFs.

Source: www.forbes.com

Following reports that the United States Securities and Exchange Commission may soon permit the debut of exchange-traded funds (ETFs) that utilize ether futures, the price of ether increased by almost 11% to $1,700. The regulator does not appear to be planning to deny the proposals of nearly twelve companies that have recently filed to introduce Ether futures ETFs according to a Bloomberg report from August 17 that cited unnamed sources with knowledge of the situation. 

Following the announcement that the SEC would permit Ether futures ETFs, the price of Ether increased by 11%. Source: TradingView 

Although officials said that some of the files may be accepted by as early as October, it is still unknown which ETF applications the SEC will approve. The SEC's decision to authorize Ether futures ETFs didn't surprise ETF expert Eric Balchunas, who said that the move demonstrates how the regulator's opinions on various products, like a spot Bitcoin ETF, can evolve over time. Since late July, more than 12 submissions for such products have been made with the SEC, flooding the authority with requests for Ether futures ETFs. 

From A New Declaration, Donald Trump Has $2.8M In His Ethereum Wallet

The most recent data supports earlier estimates that Trump has $250,000 to $500,000. stashed within an Ethereum wallet. Financial disclosure shows that former US president Donald Trump has over $2.8 million in an Ethereum wallet. Trump made over $4.8 million from licensing fees associated to nonfungible token (NFT) collections utilizing his image based on the statements released on August 14 by the charity monitor Citizens for Accountability and Ethics in Washington, with Trump making over $7.6 million from his crypto-related projects.

The amount in Trump's Ethereum wallet has increased up from the $250,000 to $500,000 he disclosed in a filing on April 14 to $2.8 million at the time of writing. Trump is attempting to win back the White House in the upcoming 2024 election after losing the 2020 election to incumbent president Joe Biden.

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