ETH Futures ETF Debut – How Did The 1st Day Play Out?

2023-10-3 17:00

Ethereum futures ETFs, touted as the next big thing in the world of cryptocurrency investments, made their much-anticipated debut on Oct. 2. These exchange-traded funds were designed to track futures contracts linked to the value of Ethereum’s native currency, Ether. 

However, the initial trading activity suggests that market enthusiasm did not translate into significant investment dollars, especially when compared to the launch of their Bitcoin counterparts.

Mixed Results For Ether ETFs 

Of the nine ETF products introduced, five exclusively hold Ether futures contracts, while the remaining four combine both Bitcoin and ETH futures. While these ETFs entered the market with high expectations, the first day of trading saw relatively subdued volume.

Eric Balchunas, a senior Bloomberg ETF analyst, expressed his observations, describing the debut as a “pretty meh day of volume.” The total trading volume for Ether ETFs on their launch day amounted to just under $2 million. 

Pretty meh volume for the Ether Futures ETFs as a group, a little under $2m, about normal for a new ETF but vs $BITO (which did $200m in first 15min) it is low. Tight race bt VanEck and ProShares in the single eth lane. pic.twitter.com/F9AHtrVcVf

— Eric Balchunas (@EricBalchunas) October 2, 2023

Although this figure may be considered normal for a new ETF, it pales in comparison to the spectacular performance of the ProShares Bitcoin Strategy ETF (BITO), which made its debut in October 2021 during a booming period for the cryptocurrency market.

BITO saw a staggering $1 billion in trading volume on its first day, emphasizing the disparity between Bitcoin and Ethereum ETF launches.

Valkyrie Leads The Pack 

Among the new Ether ETFs, Valkyrie’s bitcoin-ether blend ETF stood out, recording nearly $800,000 in trading volume on its first day. Notably, Valkyrie’s ETF had previously been trading as a Bitcoin-only futures ETF since October 2021 but adjusted its strategy to include exposure to Ethereum. This move seems to have paid off, as it garnered significant attention from investors.

Despite the relatively tepid debut of Ether ETFs, Balchunas pointed out that compared to traditional finance ETF launches, the trading volume witnessed was still substantial. However, he noted that investors generally prefer spot ETF products over those based on futures contracts. 

Spot ETFs provide direct ownership of the underlying asset, which can be more appealing to investors seeking long-term exposure without the complexities associated with futures contracts.

The launch of nine new Ethereum futures ETFs generated modest trading activity on their first day, falling far short of the meteoric rise witnessed by Bitcoin ETFs like BITO during their debut.

While it remains to be seen how these ETFs will perform in the coming weeks and months, their initial reception suggests that the investment community may still favor traditional spot ETFs over those tied to cryptocurrency futures.

Featured image from Shutterstock

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Filecoin [Futures] (FIL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $5.1636
Капитализация $0 Rank 99999
Доступно / Всего 0 FIL

futures ethereum debut funds designed exchange-traded these

Источник: bitcoinist.com

futures ethereum → Результатов: 126


Valkyrie files for Ethereum futures ETF

Valkyrie Investments has filed for an Ethereum futures exchange-traded fund (ETF), as seen in a U.S. Securities and Exchange Commission (SEC) filing on Aug. 16. According to that filing, nearly all of the fund’s assets will be invested in exchange-traded Ethereum futures, while a small portion will be invested in collateral investments such as cash, […] The post Valkyrie files for Ethereum futures ETF appeared first on CryptoSlate.

2023-8-17 22:20


Firm plans Ethereum futures ETF on the back of Bitcoin futures success

As per a regulatory disclosure filed on Monday, Kelly Intelligence is actively seeking approval from the US Securities and Exchange Commission to launch its Ethereum futures ETFs in the US.  The firm has proposed an actively managed fund that will invest in cash-settled Ethereum futures contracts traded on community exchanges that are registered with the […] The post Firm plans Ethereum futures ETF on the back of Bitcoin futures success appeared first on CryptoSlate.

2021-12-1 23:00


Фото:

Crypto Facilities представила бессрочные фьючерсы на криптовалюты

Криптовалютная торговая платформа из Великобритании Crypto Facilities запустила торги бессрочными фьючерсными контрактами на криптовалюты bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) и Bitcoin Cash (BCH) в паре с американским долларом, а также XRP/BTC.

2018-9-3 14:29


Possible Outcomes as CBOE plans to launch Ethereum futures by year end

Many within the crypto community are not aware that the cryptocurrency bubble of late last year was caused by a factor? The reason for the so called bitcoin and other crypto bubble was as a result of the listing of Bitcoin futures by CBOE in the New York crypto exchange,Gemini Exchange after it got an […] The post Possible Outcomes as CBOE plans to launch Ethereum futures by year end appeared first on ZyCrypto.

2018-9-1 02:52


Фото:

Ethereum Price and Usage Disappoint Despite ETH Futures Rumors

CBOE could launch Ethereum (ETH) futures by the end of 2018 if US regulators approve its product, anonymous sources told Business Insider August 30. ‘Getting Comfortable’ CBOE, which launched pioneering Bitcoin futures in December last year, is currently waiting while the Commodity Futures Trading Commission (CFTC) to “get comfortable with the product before its official launch,” the publication reported citing “people familiar with the matter.

2018-9-1 01:00


Фото:

Bitcoin (BTC) ETF Might Be Possible With the Bakkt Announcement, says CNBC’s Brian Kelly

Less than 24 hours ago, the owners of the New York Stock Exchange – Intercontinental Exchange (ICE) – announced that they would be partnering with Microsoft, BCG, Starbucks and other firms, to launch  a market and ecosystem to list physically settled Bitcoin futures contracts and for a new company to push Bitcoin and other digital assets […] The post Bitcoin (BTC) ETF Might Be Possible With the Bakkt Announcement, says CNBC’s Brian Kelly appeared first on Ethereum World News.

2018-8-4 11:38


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum To See Fresh Move Soon? What Futures Data Says

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently.

Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

On-chain data shows that Ethereum transaction fees have dropped to their lowest level since January, a sign that a bottom could be close. Ethereum Transfer Fees Has Plunged As Network Has Gone Cold According to data from the on-chain analytics firm Santiment, Ethereum transaction fees have taken a notable hit recently.

These Are The Ethereum Altcoins Witnessing High Whale Interest

Here are the Ethereum-based altcoins that are currently witnessing a high amount of activity from the whales, according to on-chain data. These Ethereum Altcoins Are Seeing High Whale Transactions Right Now In a new post on X, the on-chain analytics firm Santiment has discussed how several Ethereum-based altcoins have been seeing notable whale activity recently.

Ethereum Breaks $2,900, But Watch Out For Futures Overheating

Ethereum has broken beyond the $2,900 level during the past day, but data shows the futures market may be starting to become overheated. Ethereum Has Now Broken Through The $2,900 Level While Bitcoin has slumped to an overall sideways trajectory recently, Ethereum appears to have decided to pick a path of its own, as the second largest asset in the sector has surged almost 4% over the past 24 hours.

Recovery Dim? Ethereum Faces Potential Slide Towards $2,000

Ethereum, the linchpin of the decentralized application ecosystem, finds itself navigating a precarious path this week. The cryptocurrency’s value, having breached the pivotal $2,250 support level, now teeters on the edge of a decisive crossroads, caught between the prospect of a resurgence and the looming threat of a more pronounced downturn.

Buy Low, Sell High? Bitcoin Wobbles As ETF Fever Cool Downs

In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back on Saturday, dipping 6% to end the week barely above $43,000.