Disappointing Statistics on the First Day Launch of Ethereum Futures ETFs
📊 First-day trading volume: $1.96 million
Vaneck's EFUT Fund made a loud announcement, pledging to contribute 10% of the profits from the ETF to Ethereum HST, yet it only reached a meager trading volume of $400,000 on the first trading day.
To put it in perspective, Proshare's Bitcoin Futures ETF, launched in October 2021, had a trading volume of up to $200 million within the first 15 minutes.
Considering the context, the launch of Bitcoin Futures ETFs had more favorable conditions, occurring during the uptrend of 2021 with ample funds flowing in. Additionally, Bitcoin typically garners more attention than Ethereum, and most of the market may still be waiting for ETF Spot investments rather than pouring money into Futures contracts.
The SEC does not consider Ethereum a security, and the approval of Ethereum Futures ETFs is good news for ETH holders. However, this is also a test that shows the current phase is still quite dull, with little demand. Let's keep working to earn, folks. 🤷
📊 First-day trading volume: $1.96 million
Vaneck's EFUT Fund made a loud announcement, pledging to contribute 10% of the profits from the ETF to Ethereum HST, yet it only reached a meager trading volume of $400,000 on the first trading day.
To put it in perspective, Proshare's Bitcoin Futures ETF, launched in October 2021, had a trading volume of up to $200 million within the first 15 minutes.
Considering the context, the launch of Bitcoin Futures ETFs had more favorable conditions, occurring during the uptrend of 2021 with ample funds flowing in. Additionally, Bitcoin typically garners more attention than Ethereum, and most of the market may still be waiting for ETF Spot investments rather than pouring money into Futures contracts.
The SEC does not consider Ethereum a security, and the approval of Ethereum Futures ETFs is good news for ETH holders. However, this is also a test that shows the current phase is still quite dull, with little demand. Let's keep working to earn, folks. 🤷
