Volatility Shares, Bitwise, VanEck, Roundhill, ProShares, and Grayscale File Applications for Ether ETFs
As the hype around bitcoin spot ETFs continues to grow, six entities have now filed applications with the U.S. Securities and Exchange Commission (SEC) for ether (ETH) futures-based exchange-traded funds (ETFs). The first to file was Volatility Shares Ether Strategy ETF, followed by Bitwise Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, and Grayscale Ethereum Futures ETF.
Key points:
- Volatility Shares Ether Strategy ETF filed on July 28, while the other five entities filed within 24 hours of each other by August 1.
- The SEC has not historically approved any ETF applications tracking Ethereum futures contracts, despite around 10 previous filings.
- If the applications are not denied, the Ether ETFs will launch 75 days from the filing date, with Volatility Shares being the first on October 12.
- The excitement surrounding crypto-related ETFs was sparked by a wave of applications for spot-bitcoin ETFs, particularly after BlackRock and Coinbase filed their applications.
- Grayscale, which sued the SEC for denying its ETF application, believes that if the SEC approves any spot bitcoin ETF applications, it should approve all simultaneously to ensure equal treatment for all applicants.
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In conclusion, the demand for crypto-related ETFs continues to grow, with multiple entities now seeking approval for ether futures-based ETFs. If approved, these ETFs would provide investors with a more accessible and regulated way to invest in ether. The SEC’s decision will have a significant impact on the crypto market and could pave the way for further adoption of cryptocurrencies.
