The waiting time was more or less long for Bitwise, ProShares and VanEck. But their patience was eventually rewarded. Respectively, these financial giants launched revolutionary Ethereum ETFs. A sigh of relief for the crypto community!
6 Ethereum ETFs hit the market!
Last Friday, VanEck made this clarification: “ THE fund is not yet available for trading and there is no assurance that the fund will begin trading “. This warning concerns the Ethereum Strategy VanEck ETF (EFUT) to which the SEC has not yet given its approval.
Confident in his approach, VanEck promised colossal sums to Ethereum developersas rewards, once its ETH ETFs are deployed.
“ THE six new funds from ProShares, VanEck and Bitwise Asset Management allow investors for the first time to take positions in ether-based exchange-traded products. The six funds recorded a trading volume of just $1.92 million during their first day of trading, according to LSEG data. »
Translation of the post retweeted by WuBlockchain:
“ Bitwise Asset Management, the largest crypto index fund manager in America, today announced the launch of two first-of-its-kind Ethereum Futures ETFs: the Bitwise Ethereum Strategy ETF (ticker: AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy EFT (ticker: BTOP). However, trading volume was very low on the first day of trading. »
Yesterday, Reuters reported the launch of the first exchange-traded funds (ETFs) backed by ether futures contracts. Six new funds have just burst into the world of finance.
Aisha Hunt, Principal at Kelley Hunt & Charles LLC, commented on the advent of Ethereum Futures ETFs:
“ This is a logical next step for regulators and asset managers. The fact that these are tied to futures contracts regulated by the CFTC likely made the SEC more receptive “.
Here is the list of 6 ETH Futures ETFs validated by the SEC:
- ProShares Ether Strategy ETF (EETH);
- ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE);
- Bitcoin & Ether Market Cap Weight Strategy EFT (BETH);
- BitWise Ethereum Strategy ETF (AETH);
- Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP);
- and VanEck Ethereum Stragety ETF (EFUT).
Ethereum back in the spotlight?
According to a study by Santiment, investments in ether have relatively decreased since April 2023. This is similar to a high degree of pessimism among traders, individuals and institutions included. An article published by our colleague from Tremplin.io demonstrated that this trend persisted until the end of August.
However, a reversal of the situation has recently been noted. Whales accumulated ETH again while this cryptocurrency was trading at $1,735 per coin.
Is this the sign of a bull run Ethereum imminent? In any case, the conditions seem to be met to decree an “Uptober Crypto”. Rise in the price of bitcoin and that of ether… and approval of Ethereum Futures ETFs from VanEck, Bitwise, ProShares and Valkyrie.
“ Ethereum now has billions of revenue, millions of users and thousands of applications and separate developers. As the leading operating system for cryptocurrency, Ethereum has spread like wildfire. With blue-chip brands like Nike, Starbucks, Adidas, Pepsi, PayPal, JPMorgan, and others building and using applications on Ethereum, the momentum is only growing. 1 AETH and BTOP give investors the opportunity to participate in this growth with complete confidence thanks to regulated ETFs », underlines Hnter Horsley, CEO of Bitwise.
The icing on the cake is that Vitalik Buterin and his entire Ethereum team never stop thinking about the performance of the blockchain. Objective: to constantly make improvements. The advent of ETFs will only complete the work accomplished.
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