Ether futures ETFs see low volumes of trading in first few hours

Markets • October 2, 2023, 1:22PM EDT

Published 1 minute earlier on

Quick Take

In early hours of trading, ether futures ETF trading totaled less than $2 million.
This was a disappointing result when compared to the volume generated by ProShare’s bitcoin futures ETF which generated “$200 million in first 15 minutes,” according to Bloomberg.

While it's too early to say how ether futures ETF will perform long term, early volumes have been less than spectacular.

Late this morning, ether futures ETF trading had totaled less than $2 million, comparatively much less than the volume generated by ProShare's bitcoin futures ETF, according to Bloomberg EFT analyst Eric Balchunas.

"Pretty meh volume for the ether Futures ETFs as a group," Balchunas said on X. "A little under $2 million, about normal for a new ETF but vs $BITO, which did $200 million in first 15 minutes it is low."

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Balchunas posted a snapshot of a spreadsheet displaying ether futures ETF volumes including the products offered by Valkyrie, VanEck, ProShares and Bitwise. Valkyrie's bitcoin-ether blend ETF led the way by a large margin with nearly $800,000 in trading.

ProShares, VanEck and Bitwise had ether futures ETFs debut on Monday. ProShares ETF is available to investors through brokerage accounts without the need for a crypto custodian, exchange account or wallet, the company said.

About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.