The opening day of trading for ETFs based on future Ether trades was off to a slow start. Nine ETFs hit the market Monday, offering exposure to future Ether trades. Five of them will contain only future Ether trades, and four will contain a mixture of future Bitcoin and Ether trades.
Among the most popular new ETFs today, VanEck's Ethereum Strategy ETF (EFUT) traded just under 25,000 shares at about $17 per share, for a total dollar volume of just $425,000. In comparison, the ProShares Bitcoin Strategy ETF (BITO), launched in October 2021, traded over $1 billion on its first day.
The crypto industry continues to await a decision from the US Securities and Exchange Commission (SEC) on numerous applications for spot ETFs for Bitcoin and Ethereum. On Monday, Grayscale Investments filed to convert its nearly $5 billion Grayscale Ethereum Trust (ETHE) into a spot ETF.
Among the most popular new ETFs today, VanEck's Ethereum Strategy ETF (EFUT) traded just under 25,000 shares at about $17 per share, for a total dollar volume of just $425,000. In comparison, the ProShares Bitcoin Strategy ETF (BITO), launched in October 2021, traded over $1 billion on its first day.
The crypto industry continues to await a decision from the US Securities and Exchange Commission (SEC) on numerous applications for spot ETFs for Bitcoin and Ethereum. On Monday, Grayscale Investments filed to convert its nearly $5 billion Grayscale Ethereum Trust (ETHE) into a spot ETF.