Ether ETF Futures Debut with Modest Volume
Date: 2023-10-03 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
The cryptocurrency market is abuzz with the recent debut of Ethereum (Ether) ETF futures. This development marks a significant step in the world of cryptocurrency investment, but the initial trading volumes have raised eyebrows.
1. A Promising Start, but Room for Growth
While it's still too early to make long-term predictions about the performance of Ether ETF futures, the initial trading volumes have been far from impressive. According to Bloomberg analyst Eric Balchunas, the trading volume for Ether ETF futures was less than $2 million on the first day, a stark contrast to the astonishing $200 million generated by the Bitcoin ProShares ETF in its first 15 minutes.
2. Comparing Ether to Bitcoin
The modest $2 million trading volume for Ether ETF futures may be considered decent for a new ETF class, but when compared to the rapid success of Bitcoin ETFs, it falls short. Balchunas even shared a screenshot of trading volume data, encompassing products from Valkyrie, VanEck, ProShares, and Bitwise. Among them, Valkyrie's ETF with a mix of Bitcoin and Ether led the way with nearly $800,000 in trading volume.
3. The Debut of Ether ETF Futures
Monday witnessed the debut of Ether ETF futures by ProShares, VanEck, and Bitwise. Notably, ProShares ETF offers investors access without the need for a cryptocurrency wallet, exchange account, or custodian. This move aims to simplify the process of investing in Ether ETF futures, making it more accessible to traditional investors.
