United

Bitcoin

Spot

ProShares has become the eleventh to apply to the U.S. Securities and Exchange Commission (SEC) to register an Ether exchange-traded fund (ETF). Multiple Filings By ProShares 
ProShares has joined the ranks of other asset managers seeking to register an Ether exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). A total of 11 applications for Ether futures ETFs were submitted to the SEC within a week, with ProShares filing for four separate applications.&nbsp; 
Among them is an equal-weight Bitcoin and Ether ETF that will track the performance of holding long positions in the nearest maturing monthly Bitcoin and Ether futures contracts. The asset manager has also filed for two other Ethereum-focused ETFs: Short Ether Strategy ETF and ProShares Ether Strategy ETF. Wave Of Ether-Based ETF Applications 
ProShares was not alone in the race for Ether ETFs. The surge in applications began when Volatility Shares filed for the Volatility Shares Ether Strategy ETF on July 28. Subsequently, Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares, Grayscale Investments, Direxion, and Valkyrie Investments followed suit, all proposing new Ether futures ETFs. 
It is worth noting that the SEC has not yet approved any ETF that tracks Ether futures contracts, though Bitcoin futures ETFs have been around since October 2021. Volatility Could Be First Ether ETF 
If the applications go uncontested, the Ether ETFs are set to launch 75 days from their respective filing dates, with Volatility Shares ETF expected to be the first, launching on Oct. 12. 
With $173.5 million managed across four exchange-traded funds, the investment firm has the potential to be the first to issue an ETF focused on Ether. Its proposed Ether Strategy ETF (ETHU) aims to invest up to 25% of its assets in cash-settled Ether futures contracts traded on the CFTC-regulated Chicago Mercantile Exchange (CME).&nbsp; Spot BTC ETFs Coming Soon 
This surge in Ether-focused ETF applications comes alongside a flurry of filings from major asset management firms looking to launch spot Bitcoin ETFs. BlackRock, the world's largest asset manager, is among those seeking to offer the first spot Bitcoin ETF in the United States. 
As the SEC reviews these applications, the crypto market eagerly awaits the possibility of new investment opportunities through Ether and Bitcoin ETFs. 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.&nbsp;

ProShares Becomes 11th In Flood Of ETH ETF Applications

Crypto Daily™

Other articles published on Aug 4, 2023

Users said CertiK's warning was a false alarm, then, the project rugged

IN-DEPTH UNDERSTANDING OF THE NEW FUNCTIONS OF SUPER WALLET

Forget Meme Coins, Legit DeFi Is Here For Base Launch

The Sandbox to Unlock Millions of SAND Soon: Price Drop to Come?

Bitstamp's XRP Announcement Leaves Community Upset, XRP and BTC Print Golden Cross, SHIB to Host ...

TRON Network's Committee Approves Proposal 89, Introduces PUSH0 Instruction for TVM Compatibility

Join our free newsletter for daily crypto updates!