Two extra Ethereum-based exchange-traded funds have been submitted this week, bringing the entire to 23 crypto ETF filings in 2021.

VanEck and ProShares are the 2 newest firms to disclose plans for Ethereum-focused institutional merchandise. According to a submitting with the US Securities and Exchange Commission on August 18, VanEck intends to launch an “Ethereum Strategy ETF” whereas ProShares calls its proposed product an “Ether Strategy ETF”.

Both ETFs intention to supply publicity to Ethereum by investing in ETH futures contracts along with synthetic funding autos and different alternate traded merchandise with ETH publicity. Funds won’t purchase Ethereum immediately, in response to the paperwork.

Both firms have filed for a Bitcoin ETF, however the SEC remains to be making an attempt and has but to approve funds. Earlier this month, Kryptoin filed an “Ethereum ETF Trust” submitting, which is its twenty first submitting in 2021, and the ultimate two filings are 23.

Speaking to Blockworks, Nate Geraci, President of the ETF Store stated, “Given the latest news from the SEC… it is very likely that a Bitcoin futures ETF will be approved before a futures product becomes available. hybrid ether “before adding:

“It is not unreasonable to believe that a Bitcoin futures ETF could be approved before the end of the year.”

ProShares is a division of ProFunds Group that manages various mutual funds with total assets under management of approximately $ 50 billion, while VanEck has total assets of approximately $ 65 billion.

Related: Bitcoin ETF could be coming to the US, but not all crypto investors believe it is necessary

On May 7, VanEck filed for its Ethereum ETF and a few weeks later, on May 28, Wisdom Tree filed for a similar fund with the SEC. In June, the ProFunds team filed the “ProShares S&P Kensho Global Crypto & Blockchain ETF” with the SEC.

10, reported to Cointelegraph that SEC chairman Gary Gensler prompt he can be extra open to accepting ETFs primarily based on crypto futures contracts quite than direct publicity. VanEck submitted one other prospectus for an exchange-traded Bitcoin technique fund in August.