Ethereum Futures ETF Marked by Low Trading Volume at Launch, Possible Reasons

Ethereum Futures ETF Marked by Low Trading Volume at Launch, Possible Reasons
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The long-awaited Ethereum Futures Exchange Traded Fund (ETF) failed to meet many traders’ expectations as multiple variants of the product launched on Monday. According According to insights shared by Bloomberg Senior ETF Analyst Eric Balchunas, the cumulative trading volume of the ETFs on the first day of trading was just under $2 million.

After the Securities and Exchange Commission (SEC) gave the green light to many ETF proposals from companies such as VanEck, ProShares, Valkyrie and Bitwise, among others, US stock exchanges welcomed multiple launches in early this week.

According to the data shared, Valkyrie’s Bitcoin and Ethereum futures ETF mix had the highest trading volume, which was set at around $787,376 as of 11:15 am on Monday. The same low trading volume characterized the offerings of ProShares, whose Ethereum Futures ETF saw just $284,112 traded in total.

While such a product is available for mainstream investors to gain exposure to the crypto space, Balchunas noted the meager volume compared to the more than $200 million the first Bitcoin futures ETF recorded in the first 15 minutes after of its launch. live.

Possible reason for the scarred volume.

The industry has been quite emphatic about the SEC approving a crypto ETF product. While the market regulator has always been interested in the futures variant, what the industry wants most are the spot ETF versions of both Bitcoin and Ethereum.

With multiple ETF applications filed with the SEC right now, the regulator faces pressure from the industry, compounded by the legal victory awarded to Grayscale regarding the product, as well as pressure from lawmakers, who believe it is time to pass a Bitcoin ETFs. is now.

With the Ethereum Futures ETF now available, expectations abound that the SEC will approve more Bitcoin spot ETFs in the near term.

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