HomeNewsEther Futures ETFs: A New Frontier with Six Titans in Competition

Ether Futures ETFs: A New Frontier with Six Titans in Competition

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  • Six financial entities, including Volatility Shares, Bitwise, VanEck, Roundhill, ProShares, and Grayscale, have applied to the U.S. Securities and Exchange Commission (SEC) for Ether futures-based ETFs.
  • Volatility Shares might pioneer the first Ether futures ETF, due to go live on October 12 if the SEC does not reject their application.

The Ether futures market is on the brink of a transformation as six key players have submitted their Ether (ETH) futures-based ETF applications to the U.S. Securities and Exchange Commission (SEC), joining the momentum generated by the bitcoin spot ETF craze weeks prior.

The Ether ETF Race: Competing Titans

The first to jump into the fray was Volatility Shares, submitting their Ether Strategy ETF application on July 28. Known for making waves in June with its 2x Bitcoin Strategy ETF (BITX) – the inaugural leveraged crypto ETF in the U.S. – Volatility Shares is once again on the frontline of innovation.

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Subsequent to Volatility Shares’ move, applications for the Bitwise Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, ProShares Ether Strategy ETF, and Grayscale Ethereum Futures ETF were filed by August 1.

Historically, the SEC has not sanctioned any ETF applications that track Ethereum futures contracts, despite almost ten previous applications. An informed source mentioned this precedent to CoinDesk.

In the event that the SEC doesn’t reject these recent applications, the Ether ETFs will launch 75 days post-filing. This timeline implies that Volatility Shares may lead the charge with a launch on October 12, followed by the rest.

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The crypto market’s enthusiasm for crypto-based ETFs was sparked by a series of applications for spot-bitcoin ETFs, especially following BlackRock’s initial filing on June 15 and its subsequent refiling in early July with Coinbase as a surveillance-sharing partner.

In line with this trend, ARK 21Shares Bitcoin ETF is leading the spot-bitcoin ETF applications, which include BlackRock’s iShares Bitcoin Trust, Bitwise’s Bitcoin ETP Trust, Fidelity’s Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Strategy ETF, Invesco Galaxy Bitcoin ETF, and Valkyrie’s spot-bitcoin ETF.

Grayscale, a subsidiary of Digital Currency Group (CoinDesk’s parent company), which had previously filed a lawsuit against the SEC for denying its trust product conversion into an ETF, asserts that if any spot bitcoin ETF applications are approved, they should all be sanctioned simultaneously to ensure fair treatment among the applicants.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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