The launch of ether futures exchange-traded funds (ETFs) in the United States has seen lower initial trading volumes compared to the debut of ProShares’ bitcoin futures ETF in 2021. As of late morning on the first trading day, the total trading volume for ether futures ETFs was reported to be less than $2 million.
Bloomberg ETF analyst Eric Balchunas described the volume as “meh” and pointed out that it is typical for new ETFs but significantly lower compared to ProShares’ bitcoin futures ETF (BITO), which achieved $200 million in trading volume within the first 15 minutes of its launch.
The ether futures ETFs introduced by Valkyrie, VanEck, ProShares, and Bitwise were all part of this launch. Among them, Valkyrie’s bitcoin-ether blend ETF exhibited the highest trading volume, with nearly $800,000 in trading.
ProShares highlighted that its ETF is accessible to investors through brokerage accounts without the need for a cryptocurrency custodian, exchange account, or wallet, which may have contributed to its higher trading volume.
While it is still early to make definitive conclusions about the long-term performance of ether futures ETFs, their initial trading volumes have been less spectacular compared to the debut of bitcoin futures ETFs, reflecting varying levels of investor interest and demand.