Surge Of Ether Futures ETF Floods US SEC With 3 New Applications

Key Points:

• US SEC inundated with 11 Ether futures ETF applications in less than a week.
• ProShares and Bitwise among the major players submitting proposals for Bitcoin and Ethereum ETFs.
• Excitement grows as the possibility of a spot Bitcoin ETF approval looms, boosting crypto investment prospects.

The United States Securities and Exchange Commission (SEC) faces a surge in applications for Ether futures exchange-traded funds (ETFs).

Among the applicants, ProShares and Bitwise have submitted three ETF applications specifically related to Bitcoin and Ethereum. ProShares has filed for the “Bitcoin & Ether Strategy ETF” and the “Bitcoin & Ether Equal Weight Strategy ETF.”

Meanwhile, Bitwise has put forward its own proposal for the “Bitwise Bitcoin and Ether Equal Weight Strategy ETF.”

The “Bitcoin & Ether Equal Weight ETF” is designed to track the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts.

In addition to these filings, ProShares has lodged four separate applications for Ether-based ETFs, which include a dual Bitcoin and Ether futures strategy ETF, a short Ether Strategy ETF, and an Ether Strategy ETF.

The trend of Ether-related ETF applications commenced with Volatility Shares, which filed for the “Volatility Shares Ether Strategy ETF” on July 28.

Subsequently, several other prominent players like Bitwise Asset Management, Roundhill Financial, Van Eck, and Grayscale Investments have also jumped on board and filed new Ether futures applications on August 1.

In a span of less than a week, a total of 11 filings for Ether-based ETFs have been submitted, signaling the growing interest in crypto investment products.

Currently, the U.S. only permits investment in Bitcoin futures ETFs, which are backed by bitcoin derivatives.

The flurry of recent filings indicates the increasing desire for a spot Bitcoin ETF to be approved, sparking excitement within the crypto investment community.

As the SEC navigates through these applications, market participants eagerly await the potential approval of Ether-based ETFs, which could further fuel the adoption and accessibility of cryptocurrencies for investors.

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