Ethereum futures ETFs, touted as the next big thing in the world of cryptocurrency investments, made their much-anticipated debut on Oct. 2. These exchange-traded funds were designed to track futures contracts linked to the value of Ethereum’s native currency, Ether.
However, the initial trading activity suggests that market enthusiasm did not translate into significant investment dollars, especially when compared to the launch of their Bitcoin counterparts.
Mixed Results For Ether ETFs
Of the nine ETF products introduced, five exclusively hold Ether futures contracts, while the remaining four combine both Bitcoin and ETH futures. While these ETFs entered the market with high expectations, the first day of trading saw relatively subdued volume.
Eric Balchunas, a senior Bloomberg ETF analyst, expressed his observations, describing the debut as a “pretty meh day of volume.” The total trading volume for Ether ETFs on their launch day amounted to just under $2 million.
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