The US Securities and Exchange Commission was recently inundated with requests for Ether (ETH) futures exchange-traded funds (ETFs).: In less than a week, 11 Ether-based applications were submitted.
The ProShares ETF was last filed on August 3rd and offers an equal parts bitcoin (BTC) and ether ETF.. According to the filing, the fund will track “the performance of holding long positions in the nearest expiring monthly bitcoin and ether futures contracts.”
UPDATE: One more… 11 ETF applications… Proshares has applied for its 4th ETF ETF with Ethereum futures. This is equal to the weight #Bitcoin & #Ethereum The ETF is exactly the same as the one from Bitwise that crashed an hour ago. https://t.co/vB05Wvt33e pic.twitter.com/u3I3LzznGZ
— James Seyffart (@JSeyff) August 3, 2023
UPDATE: 11 ETFs have been filed… Proshares has filed its 4th ETF futures ETF. This is the equal weight of #Bitcoin and #Ethereum ETF, just like the Bitwise presentation that went live an hour ago. https://t.co/vB05Wvt33e pic.twitter.com/u3I3LzznGZ
According to Bloomberg ETF analyst James Seiffart, Fund manager ProShares has filed a total of four separate ETF ETF filings in recent days, including the Ether-Bitcoin Futures Dual Strategy ETF, the Short ETF ETF, and the Ether Strategy ETF..
A total of 11 Ether-linked ETFs have been listed in the past seven days, all of which are futures ETFs. A flurry of ether-based ETF applications launched by volatility stockswhich applied for the creation of the Volatility Shares Ether Strategy ETF on July 28.
Volatilty’s footsteps were followed by Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares, and Grayscale Investments, who filed new bids for Ethereum futures on August 1.
we have 7 #Ethereum Applications for futures ETFs from 6 issuers. They are all behind Volatility Shares. The key aspect here is that this is the same firm that managed to get 2X #Bitcoin Futures ETFs ( $BITKS) through this SPK. https://t.co/dVpBkmtWwv pic.twitter.com/m615PS8Ssc
— James Seyffart (@JSeyff) August 2, 2023
We have 7 ETF requests for Ethereum futures from 6 issuers. They are all behind Volatility Shares. The key aspect here is that this is the same firm that managed to get the #Bitcoin 2X Futures ($BITX) ETF through this SEC. https://t.co/dVpBkmtWwv pic.twitter.com/m615PS8Ssc
noteworthy The SEC has never approved an ETF that tracks Ether futures contracts. On the other hand, Bitcoin futures ETFs have been around since October 2021..
If neither request is rejected by the SEC, the Ether ETFs will launch 75 days after their respective filing dates.the first of which will be the launch of the Volatility Shares ETF on October 12th.
The main difference between futures ETFs and spot ETFs is that the former tracks the price of futures contracts, while the latter involves the purchase of the underlying asset by the issuer.. Spot ETFs are generally considered safer because they involve the purchase and holding of the underlying asset by the fund manager.
The surge in Ether-focused requests follows a flurry of requests from major asset managers looking to launch a Bitcoin ETF.. BlackRock, the world’s largest asset manager, is among those seeking to offer what will be the first Bitcoin ETF in the US.
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