'Pretty meh volume' for the group, said one analyst.
A total of nine of the ETFs offering exposure to ether futures came to market on Monday. Five will hold only ether futures, while four will hold a mix of bitcoin and ether futures. One of those funds, Valkyrie’s Bitcoin Strategy ETF – soon to be renamed – has been in existence for about two years as a bitcoin-only fund, but is changing its strategy to include ether. The rest of the vehicles are new to market.
Among the more popular of the new ETFs today, VanEck’s Ethereum Strategy ETF traded just shy of 25,000 shares at a price roughly averaging $17 per share for total dollar volume of just $425,000. As comparison, the ProShares Bitcoin Strategy ETF – which launched in October 2021 amid a raging crypto bull market – traded more than $1 billion in in dollar volume on its first day.
The crypto industry continues to await a decision from the U.S. Securities and Exchange Commission over numerous recent and older applications for both spot bitcoin and spot ether ETFs. Grayscale Investments Monday morning threw its hat in the ring on ether,The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a.
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