- ProShares has now unveiled the ProShares Ether Strategy ETF.
- The SEC has been notoriously slow to approve Bitcoin ETFs.
Ether Futures Exchange Traded Funds (ETFs) by major players like VanEck and Proshares goes live, marking a new era for the cryptocurrency sector and the ETF market as a whole. The SEC has been notoriously slow to approve Bitcoin ETFs, so this news comes as somewhat of a surprise.
According to the filing, VanEck’s VanEck Ethereum Strategy ETF (CBOE: EFUT) provides investors with an innovative way to have exposure to digital assets by seeking capital gain via investments in Ethereum (ETH) futures contracts.
Exposure to Crypto Assets
Standardized, cash-settled ETH futures contracts traded on CFTC-regulated commodities exchanges are EFUT’s primary investment vehicle. The fund is now focused on Ethereum futures on the Chicago Mercantile Exchange (CME), one of the world’s most established and strictly regulated futures markets.
The same company, ProShares, which launched the first exchange-traded fund (ETF) based on Bitcoin futures in the United States, has now unveiled the “ProShares Ether Strategy ETF.” This offering gives buyers the chance to gain exposure on the future price of Ethereum. Two more Exchange Traded Funds (ETFs) from ProShares provide exposure to both Bitcoin and Ethereum combined.
Conventional investors who may be wary of crypto ownership in its purest form may benefit from these ETFs in a number of ways, including regulatory supervision, tax efficiency, and ease of access.
These Ethereum futures exchange-traded funds are creating ripples in the cryptocurrency industry, but they are only following in the footsteps of Bitcoin futures ETFs. In late 2021, ProShares introduced the first Bitcoin futures exchange-traded fund (ETF) in the U.S, giving investors a regulated way to track Bitcoin’s price changes.
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