Ethereum

Bitcoin

<p class="is-style-lead">In a stark contrast of trading volumes, the debut of Ethereum futures ETFs on CME witnessed a modest start, with trading activity in the first 15 minutes hovering below $2 million. This pales in comparison to their Bitcoin-based counterparts, which boasted volumes a hundred times greater.</p> 
<p>Bloomberg analyst Eric Balchunas suggests that these numbers are common for new ETFs but relatively low for Ethereum (ETH), given its market size. </p> 
<p>According to Balchunas, the top performer was Valkyrie’s ETF, based on a combination of the first and second-largest cryptocurrencies by market capitalization, with a trading volume of $787,000. </p> 
<p>VanEck’s Ethereum futures-only ETF had a modest volume of just over $300,000.</p> 
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   <p lang="en" dir="ltr">Pretty meh volume for the Ether Futures ETFs as a group, a little under $2m, about normal for a new ETF but vs <a href="https://twitter.com/search?q=%24BITO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BITO</a> (which did $200m in first 15min) it is low. Tight race bt VanEck and ProShares in the single eth lane. <a href="https://t.co/F9AHtrVcVf" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/F9AHtrVcVf</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1708865693481836849?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 2, 2023</a> 
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<p>In total, the turnover for six exchange-traded funds based only on Ethereum futures at the end of the day <a href="https://twitter.com/WuBlockchain/status/1709026593363120389" target="_blank" rel="noopener noreferrer nofollow">reached</a> to $1.92 million, including $879,000 for the ProShares Ether Strategy ETF.</p> 
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   <p lang="en" dir="ltr">The six new funds by ProShares, VanEck and Bitwise Asset Management allow investors to take positions in exchange-traded products based on ether for the first time. The six funds saw trading volumes total only $1.92 million in their first day of trading, according to data from… <a href="https://t.co/ASebNWJHO6" target="_blank" rel="noopener noreferrer nofollow">https://t.co/ASebNWJHO6</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1709026593363120389?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 3, 2023</a> 
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<p>Bloomberg pointed out that compared to two years ago when Bitcoin ETF trading began, the current bear market has made the competition tougher. </p> 
<p>Roxanne Islam, deputy research director at VettaFi, <a href="https://www.bloomberg.com/news/articles/2023-10-02/ether-futures-eth-etfs-are-making-their-debut-in-the-us-in-industry-victory" target="_blank" rel="noopener noreferrer nofollow">suggests</a> that the subdued interest in Ethereum-based futures ETFs is because investors are anticipating spot versions, primarily Bitcoin (BTC), possibly in early 2024.</p> 
<p>However, the US Securities and Exchange Commission (SEC) has been <a href="https://crypto.news/sec-hustles-to-delay-bitcoin-etfs-amid-looming-government-shutdown/" rel="noopener noreferrer nofollow">postponing</a> the consideration of applications for a spot Bitcoin ETF. </p> 
<p>In early September, the regulator extended its evaluation timeline for several spot Bitcoin ETF applications. It has also postponed its decision on ARK 21Shares’ Bitcoin ETF application to next year.</p> 
<p> You might also like: <a href="https://crypto.news/what-is-ethereum-etf-and-how-could-vanecks-launch-impact-crypto/" rel="noopener noreferrer nofollow"> What is Ethereum ETF, and how could VanEck’s launch impact crypto? </a> </p>

Ethereum futures ETFs on CME begin with light trading volumes

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