Ethereum

Bitcoin

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 <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 <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> 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 $BITO (which did $200m in first 15min) it is low. Tight race bt VanEck and ProShares in the single eth lane. pic.twitter.com/F9AHtrVcVf</p>— Eric Balchunas (@EricBalchunas) October 2, 2023 
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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 reached 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 <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>s total only $1.92 million in their first day of <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a>, according to data from… https://t.co/ASebNWJHO6</p>— Wu Blockchain (@WuBlockchain) October 3, 2023 
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 <p>Bloomberg pointed out that compared to two years ago when Bitcoin ETF <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> began, the current bear market has made the competition tougher. </p> 
 <p>Roxanne Islam, deputy research director at VettaFi, suggests 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 postponing 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> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-futures-etfs-on-cme-begin-with-light-trading-volumes-tbt65050.html">https://thebittimes.com/ethereum-futures-etfs-on-cme-begin-with-light-trading-volumes-tbt65050.html</a></p>

Ethereum futures ETFs on CME begin with light trading volumes

TheBitTimes

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