Ether Futures ETFs Volume Kicks Off With Modest $2 Million
- Ether Futures ETFs volume of approximately $2 million, lagging behind Bitcoin ETF’s explosive start.
- VanEck and ProShares compete for market share in the emerging Ether ETF space.
Ether Futures ETFs volume under $2m, compared to $BITO’s impressive $200m in the first 15 minutes. VanEck and ProShares compete closely in the Ether market.
Several Ether Futures Exchange-Traded Funds (ETFs) made their debut in the first week of October. Ether, the second-largest cryptocurrency after Bitcoin, now offers investors more avenues to gain exposure to the crypto market.
Ether Futures ETFs Volume
According to ETF Analyst Eric Balchunas, the initial trading volume for these Ether Futures ETFs has been relatively low, hovering around $2 million.
This level of trading activity is typical for new ETFs but significantly lower when compared to the massive $200 million traded within the first 15 minutes of the launch of the Bitcoin Strategy ETF ($BITO).
VanEck and ProShares are currently locked in a competitive race in the single Ether lane, striving to capture market share and investor interest.
These ETF launches also coincide with ongoing discussions at the U.S. Securities and Exchange Commission (SEC) regarding the possibility of approving a spot Bitcoin ETF.
While the SEC has historically been cautious about such products, recent legal developments and the successful launch of Ether Futures ETFs may provide optimism for the future approval of spot Bitcoin ETFs.
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