ProShares Files for Ether ETFs, Joining a Wave of Applications
ProShares has joined several other asset managers in applying to the U.S. Securities and Exchange Commission (SEC) to register an Ether exchange-traded fund (ETF). They have submitted four separate applications, including an equal-weight Bitcoin and Ether ETF and two Ethereum-focused ETFs. ProShares is one of 11 companies that have recently filed applications for Ether futures ETFs. The surge in applications began with Volatility Shares’ filing on July 28, and if uncontested, the Ether ETFs could launch 75 days from their respective filing dates. Volatility Shares’ ETF is expected to be the first, launching on October 12. With $173.5 million managed across four exchange-traded funds, ProShares has the potential to be the first to issue an Ether-focused ETF.
Main Breakdowns:
– ProShares files for four separate applications for Ether ETFs.
– A total of 11 companies have applied for Ether futures ETFs.
– Volatility Shares’ ETF is expected to be the first to launch on October 12.
– ProShares manages $173.5 million across four exchange-traded funds.
– Major asset management firms are also applying for spot Bitcoin ETFs.
The Hot Take:
The filing of multiple applications for Ether ETFs demonstrates the growing interest in cryptocurrency investments. If approved, these ETFs could provide new investment opportunities for crypto enthusiasts. ProShares, with its significant assets under management, has the potential to be the first to launch an Ether-focused ETF. As the SEC reviews these applications, the crypto market eagerly anticipates the possibilities that Ether and Bitcoin ETFs could bring.
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