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- ProShares has now launched the ProShares Ether Strategy ETF.
- The SEC has been infamously slow in approving Bitcoin ETFs.
Ether Futures Exchange Traded Funds (ETFs) from prominent firms such as VanEck and ProShares have commenced operations, signaling a new chapter for both the cryptocurrency industry and the ETF landscape overall. The SEC has been infamously slow in approving Bitcoin ETFs, making this development somewhat unexpected.
As per the filing, VanEck’s VanEck Ethereum Strategy ETF (CBOE: EFUT) offers investors a novel method to gain exposure to digital assets by aiming for capital appreciation through investments in Ethereum (ETH) futures contracts.
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EFUT primarily utilizes standardized, cash-settled ETH futures contracts traded on CFTC-regulated commodities exchanges. The fund is currently concentrating on Ethereum futures on the Chicago Mercantile Exchange (CME), recognized as one of the most established and rigorously regulated futures markets globally.
The same firm, ProShares, which introduced the first exchange-traded fund (ETF) based on Bitcoin futures in the United States, has now launched the “ProShares Ether Strategy ETF.” This product allows investors to gain exposure to the anticipated future price of Ethereum. Additionally, two more Exchange Traded Funds (ETFs) from ProShares offer combined exposure to both Bitcoin and Ethereum.
Traditional investors who might be hesitant about direct crypto ownership could find these ETFs advantageous in several ways, including regulatory oversight, tax efficiency, and accessibility.
These Ethereum futures exchange-traded funds are making waves in the cryptocurrency sector, yet they are merely following the precedent set by Bitcoin futures ETFs. In late 2021, ProShares launched the first Bitcoin futures exchange-traded fund (ETF) in the U.S., providing investors with a regulated means to monitor Bitcoin’s price fluctuations.
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