Ethereum Futures ETF Launches to Muted Volumes
Crypto News

Ethereum Futures ETF Launches to Muted Volumes

4 months ago

Nine new Ethereum (ETH) futures exchange-traded funds (ETFs) launched on October 2.

Ethereum Futures ETF Launches to Muted Volumes

The Launch Of Ethereum Futures ETF Had Low Volumes

Nine new Ethereum (ETH) futures exchange-traded funds (ETFs) launched on October 2.  These ETFs, designed to track futures contracts tied to the value of Ethereum's native currency, Ether (ETH), entered the market. Five of the funds exclusively hold Ether futures, while the remaining four track a combination of Bitcoin and ETH futures contracts.

However, their initial trading volumes on opening day fell short of expectations, with all nine ETFs collectively recording less than $2 million in trading volume on their first day. The most popular product was Valkyrie's BTF, which combines Bitcoin and Ether futures and garnered $882,000 worth of volume. In contrast, the ProShares Bitcoin Strategy ETF (BITO) witnessed over $1 billion in trading volume on its debut day in October 2021.

This comes as ETH gained 9.4% over the past 7 days, following the SEC’s approval of the futures ETF last week. Bitcoin (BTC) also started the new month with a gain of 5.8% over the last week.

Meanwhile, ETF firm Volatility Shares canceled its plans to list a similar Ether futures product, citing a lack of current opportunity in the market.

Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
1 person liked this article