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 <p>Six companies, including Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, and Grayscale, have applied for Ethereum futures ETFs. Eric Balchunas, a senior ETF analyst at Bloomberg, reported the applications on August 1st.</p>  
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Here's fresh update of the Ether Futures ETF Race, which now has SIX in the running.. nice job by @JSeyff for putting together so quickly pic.twitter.com/G1rwwfaFoS</p> 
  <p>— Eric Balchunas (@EricBalchunas) August 1, 2023</p> 
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 <p>In their SEC filing on July 28, Volatility Shares proposed the Ether Strategy ETF. As part of this, they would invest in cash-settled Ether Futures contracts traded on the Chicago Mercantile Exchange (CME), instead of directly investing in Ether.</p> 
 <p>After successfully launching the 2x Bitcoin Strategy ETF (BITX), the first leveraged Bitcoin futures ETF in the country, Volatility Shares has now filed a new application. The new filing aims to correspond to two times the daily excess return of the S&amp;P CME Bitcoin Futures Daily Roll Index. In his tweet earlier this week, Balchunas wrote:</p> 
 <blockquote> 
  <p>“Interesting given SEC made some recent Ether filers withdrawal. But.. VolShares just got (against the odds) a 2x Bitcoin Futures ETF out so maybe they [are] feeling confident [the] time is right.”</p> 
 </blockquote> 
 <h3 id="ethereum-eth-price-up-2-but-options-market-tells-different-story">Ethereum (ETH) Price Up 2%, But Options Market Tells Different Story</h3>  
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 <p>After some selling pressure earlier this week, there’s some ray of optimism with the Ethereum (ETH) price gaining more than 2% in the last 24 hours. As of press time, ETH is trading at $1,860 with a market cap of $225 billion.</p> 
 <p>Following Bitcoin’s recent drop to $29,000, the price of Ethereum also fell below $1,900. However, after a few days of being below $1,850, the price has slightly increased once again.</p> 
 <p>Also, Ethereum options data shows a negative bias for the ETH price action over the next six months. The six-month call-put skew for Ether, a measure of the difference between implied volatilities of call and put options expiring in 180 days, has dropped to -0.91, the lowest since June 15, according to crypto data provider Amberdata.</p> 
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 <p>The negative value indicates a preference for put options, which allow the buyer the right (but not the obligation) to sell the underlying asset at a predetermined price on or before a specific date. A put buyer is essentially bearish on the market, while a call buyer is bullish.</p> 
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Race for Ethereum Futures ETFs Begins Led By Volatility Shares

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