Early Ethereum ETF Volumes Low, But Confidence for Spot ETF Launch High

Trading volumes and general interest for the raft of Ethereum futures exchange-traded funds launched this week have been low.

A total of nine Ethereum futures ETFs were launched on October 2 but initial trading volumes across them have been low, according to industry experts.Pretty meh volume for the Ether Futures ETFs as a group, a little under $2m, about normal for a new ETF but vsHe compared it to the first Bitcoin futures ETF, BITO, which did $200 million in the first 15 minutes. However, the ProShares Bitcoin Strategy ETF was launched at the height of a bull market in October 2021.

Bitwise CIO Matt Hougan said, “I expect we’ll see a spot bitcoin ETF this calendar year,” while VanEck CEO Jan van Eck commented, “It looks like early in 2024 we will probably see a spot product.”for the asset in America. Futures contracts do not invest directly in the asset, they use other futures contracts from the Chicago Mercantile Exchange, so they bear no weight on spot ETH prices.

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