Ethereum Futures ETFs See Low Start on First Day of Trading

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The crypto market was buzzing with excitement on Monday, as nine new Ethereum Futures Exchange-Traded Funds (ETFs) made their debut in the market. However, despite the initial excitement surrounding their launch, the Ethereum Futures ETFs did not attract the level of investment that some had anticipated.

Ethereum ETFs: The Lackluster Start

On the first day of trading, all nine ETFs combined witnessed trading volumes of less than $2 million, according to data available as of midday EST.

Bloomberg’s senior ETF analyst, Eric Balchunas, expressed his thoughts on the matter, calling the day’s trading volumes “pretty meh.” This lack of enthusiasm from investors raises questions about the potential success of these ETFs in the broader market.

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A Promising Debut

The launch of Ethereum Futures ETFs was a watershed moment in the history of crypto investment vehicles. Unlike typical ETFs, which invest in actual assets, these funds expose investors to futures contracts based on the value of Ethereum’s native token, Ether. This enables investors to speculate on Ether’s future price changes without actually owning the cryptocurrency.

Of the nine ETFs launched, five exclusively hold Ethereum futures contracts, while the remaining four combine Bitcoin and Ether futures contracts. This diverse offering was expected to cater to a wide range of investors, from those seeking pure exposure to Ethereum to those looking for a diversified crypto investment.

Valkyrie’s BTF Takes the Lead

Among the nine Ethereum Futures ETFs that made their debut, Valkyrie’s BTF (Bitcoin and Ether) stood out as the most popular choice among investors, which managed to accumulate a total trading volume of $882,000 on its first day. 

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It’s worth noting that Valkyrie’s BTF had previously existed as a Bitcoin-only futures ETF since October 2021 but adjusted its strategy to include Ethereum (ETH).

When comparing the first-day trading volume of these Ethereum ETFs to that of ProShares Bitcoin Strategy ETF (BITO), which launched in October 2021 during a thriving crypto market, BITO, focusing purely on Bitcoin, had an incredible $1 billion in trading activity on its debut day. 

This huge disparity in trade volumes demonstrates Bitcoin’s continued supremacy in the crypto space. Balchunas however, noted that the Ethereum Futures ETFs’ trading volumes were actually quite substantial when compared to a typical traditional finance ETF launch.

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