The first day of trading for nine new Ethereum futures exchange-traded funds (ETFs) saw a relatively low trading volume of less than $2 million across all products. Only five of the ETFs exclusively track Ether futures, while the other four include a mix of Bitcoin and ETH futures contracts. The most popular ETF, Valkyrie’s BTF, which tracks a combination of Bitcoin and Ether, had a trading volume of $882,000. In comparison, the ProShares Bitcoin Strategy ETF (BITO) witnessed over $1 billion in trading volume on its first day. Despite the lower volume, the launch of these ETFs was considered significant in the traditional finance space. The simultaneous launch of all nine ETFs was intended to prevent any one fund from dominating the market. Volatility Shares, however, canceled its plans to list a similar product in the Ether futures market.
Summary:
– Trading volume for the first day of trading for nine new Ethereum futures ETFs was less than $2 million.
– Only five ETFs exclusively track Ether futures, while four include a mix of Bitcoin and ETH futures contracts.
– Valkyrie’s BTF, tracking Bitcoin and Ether, had a trading volume of $882,000.
– ProShares Bitcoin Strategy ETF (BITO) witnessed over $1 billion in trading volume on its first day.
– The simultaneous launch of all nine ETFs aimed to prevent market domination by any one fund.
– Volatility Shares canceled its plans to list a similar product in the Ether futures market.