- There are currently six Ethereum Futures ETF applications awaiting approval from the US Securities and Exchange Commission (SEC).
- Volatility Shares has applied for a new exchange-traded fund (ETF) after becoming the first leveraged Bitcoin Futures ETF in the US with its previous ETF, 2x Bitcoin Strategy ETF (BITX).
- The SEC had previously stated that it could not approve a spot ETF due to market manipulation and lack of investor protection.
Investment management companies are now competing for Ethereum Futures ETFs after competing for spot Bitcoin ETFs.
Competition Heats Up for Ethereum Futures ETFs
There are currently six Ethereum Futures ETF applications awaiting approval from the US Securities and Exchange Commission (SEC). Several major participants are competing for approval for an Ethereum Futures ETF.
These applications have been made by Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, and Grayscale. On August 1st, Bloomberg’s chief ETF analyst Eric Balchunas announced the applications.
The Ethereum Strategy ETF was proposed by Volatility Shares in a filing submitted to the SEC on July 28th. To do this, they will invest in Ethereum Futures contracts traded on the Chicago Mercantile Exchange (CME) that are settled in cash instead of directly purchasing Ethereum.
Volatility Shares has applied for a new exchange-traded fund (ETF) after becoming the first leveraged Bitcoin Futures ETF in the United States with its previous ETF, 2x Bitcoin Strategy ETF (BITX).
ETFs Bring Hope for Investors
The Ethereum Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, Proshares Short Ethereum Strategy ETF, and Grayscale Ethereum Futures ETF are all prominent names among Ethereum Futures ETF applications.
The SEC had previously stated that it could not approve a spot ETF due to market manipulation and lack of investor protection. However, BlackRock’s involvement has given investors hope that they may find a way out.
Meanwhile, the price of Ethereum (ETH) continues its sideways consolidation influenced by Bitcoin and remains below the 50-day exponential moving average (EMA) of $1,870. If volatility increases due to Bitcoin’s impact on ETH, altcoins may experience a decline. However, it has gained 1.48% in the last 24 hours and is currently trading at $1,857.
