Investment Management Firm Introduces Ether Futures ETFs
ProShares Advisors, an investment management firm, has launched six new futures products for Ether, making it the cryptocurrency’s entrance into the ETF market. These newly released ETFs provide investors with exposure to Ether through futures contracts rather than direct investment in the cryptocurrency. ProShares Advisors is responsible for three of the new ETFs: Ether Strategy ETF (EETH), Bitcoin & Ether Equal Weight Strategy ETF (BETE), and Bitcoin & Ether Market Cap Weight Strategy ETF (BETH). By tracking the performance of Ether futures contracts, these ETFs offer regulated exposure to the cryptocurrency market. The introduction of futures-based ETFs brings stability and resolves challenges in the evolving spot market.
SEC Reviews Spot Bitcoin ETF Approval
The U.S. Securities and Exchange Commission (SEC) is currently reviewing the potential approval of a spot bitcoin ETF. This follows a judge’s ruling against the SEC’s argument to prevent the conversion of a Grayscale Bitcoin Trust (GBTC) into an ETF. Previously, the SEC consistently rejected similar products. In contrast, ProShares manages the Bitcoin Strategy ETF (BITO), which is the largest bitcoin futures ETF available and has shown significant growth this year. ProShares aims to be a leading crypto ETF provider with its full suite of crypto solutions.
EU’s First Spot Bitcoin ETF Goes Live
Last month, Jacobi Asset Management released Europe’s first spot Bitcoin ETF on the EuroNext Amsterdam Exchange after a one-year delay due to market conditions. The fund charges clients a 1.5% annual management fee and has authorized participants including Jane Street and DRW. The launch of this EU spot Bitcoin ETF comes amid a surge in applications for similar products in the US. BlackRock, Invesco, Wisdom Tree, and the Chicago Board Options Exchange have all filed for or expressed interest in spot Bitcoin ETFs, highlighting the growing demand for regulated cryptocurrency investment options.
Hot Take: Ether Futures ETFs Open New Opportunities for Investors
The introduction of Ether futures ETFs by ProShares Advisors marks a significant milestone for the cryptocurrency market. These new products provide investors with regulated exposure to Ether without directly owning the digital asset. By tracking the performance of Ether futures contracts, investors can participate in the potential growth of Ether while mitigating some of the risks associated with direct cryptocurrency investment. This development comes at a time when regulators are increasingly open to approving crypto-related financial products, paving the way for more innovation and opportunities in the industry. As the crypto market continues to evolve, Ether futures ETFs offer a convenient and accessible investment avenue for those looking to diversify their portfolios with cryptocurrencies.
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