In what can be seen as a significant trend in the crypto world, a total of 12 applications for Ethereum futures exchange-traded funds (ETFs) have been submitted to the U.S. Securities and Exchange Commission (SEC). A series of filings from major players in the investment industry, including ProShares, Direxion, VanEck, Grayscale, Roundhill and Bitwise, await regulatory approval, potentially signaling a pivotal moment for cryptocurrency and traditional finance integration.

James Seyffart, a Bloomberg Intelligence analyst, is among the industry experts closely monitoring these filings. In a flurry of tweets, he outlined the current state of affairs, “We’re at 12. Bitwise actually filed for two ETFs. Equal weight and market weight versions of their dual Bitcoin and Ethereum futures ETFs. …