Expected that there will be 9 ETH futures ETFs launching in the US next week

Kamal531

Asset management company Valkyrie announced yesterday (September 29) that it has officially received approval from the SEC. Its Bitcoin futures ETF can now offer users Ethereum futures contract positions. This ETF's new composite service will officially open for trading on the NASDAQ in the United States on October 3, with the name updated to "Valkyrie Bitcoin and Ether Strategy ETF," with the ticker symbol remaining BTF.

Bloomberg analysts: It is expected that there will be 9 ETFs launching next week!
With Valkyrie's announcement of approval, many fund companies are also actively preparing. According to Bloomberg analyst James Seyffart, it is expected that nine Ethereum futures ETFs will launch next Monday, which he believes will be a "crazy day."

According to the chart above, there are currently many participants entering the Ethereum futures ETF market. ETF company ProShares, which manages over $60 billion in assets, is one of the runners in this race and is also expected to launch an ETF based on Ethereum as the underlying asset next Monday, with the name EETH. In addition, they have also launched ETFs that track the returns of both Bitcoin and Ethereum, namely Equal Weight Strategy ETF (BETE) and Market Cap Weight Strategy ETF (BETH). These three ETFs are expected to be listed on the New York Stock Exchange. Michael L. Sapir, CEO of ProShares, stated: With the launch of EETH, investors looking to track the performance of Bitcoin or Ethereum through ETFs will no longer have to wait and can enjoy all the advantages of the ETF structure.

Investors are most concerned about the expense ratios of these nine ETFs. ProShares has an expense ratio of 0.95% for these three ETFs, Bitwise has an expense ratio of 0.85% for its two ETFs, and VanEck has an expense ratio of 0.66%. It is worth mentioning that VanEck, an asset management company that once managed $90 billion in ETF assets, announced that it will donate 10% of the proceeds it receives from the Ethereum Strategy ETF (EFUT) over the next ten years to Protocol Guild, a group of about 150 key contributors who maintain the Ethereum core protocol. They are currently focused on the major proposal EIP-4844 for the upcoming upgrade, London.

Ethereum spot ETFs are also in the pipeline.
However, what the market is even more excited about is that several asset management companies are currently applying for Ethereum spot ETFs. According to Bloomberg analyst Eric Balchunas, asset management giant Invesco has submitted an application to the SEC for an Ethereum spot ETF called Invesco Galaxy Ethereum, with Galaxy Digital Funds serving as the executing agent for Invesco Galaxy Ethereum ETF, assisting the trust in purchasing and selling Ethereum.

Previously, Cathie Wood's ARK Invest and ETP issuer 21Shares jointly submitted the first Ethereum spot ETF application. The fund is called "ARK 21Shares ETHEREUM ETF" and represents the first attempt to list a fund directly investing in the second-largest cryptocurrency, ETH, in the United States.

Yamini003

Having spot is quite good indeed.