Crypto Investors Rejoice As Ethereum Futures ETFs Finally Launch

Zinger Key Points
  • ProShares CEO Michael L. Sapir believes its ETFs will attract investors wary of direct cryptocurrency purchases.
  • The VanEck Ethereum Strategy ETF also makes a debut today (Monday).

Several exchange-traded funds ETFs focusing on Ethereum ETH/USD futures were introduced to the market.

This marked a significant milestone as these are the inaugural ETFs centered on Ethereum futures, coming nearly two years post the introduction of the first Bitcoin BTC/USD futures ETF, The Block reported.

As the digital currency landscape continues to evolve, discussions around such innovative financial products are expected to be a highlight at the upcoming Benzinga's Future of Digital Assets conference on Nov. 14.

ProShares, recognized for pioneering the first Bitcoin futures ETF in the U.S., rolled out the ProShares Ether Strategy ETF.

Additionally, the company introduced two more ETFs that encompass both Bitcoin and Ethereum.

"We believe our crypto-linked ETFs will appeal to investors keen on cryptocurrencies but wary of custody risks or the intricacies of direct purchases," said ProShares CEO Michael L. Sapir.

These newly launched ETFs provide investors the convenience of access via brokerage accounts, eliminating the necessity for a crypto custodian, exchange account or digital wallet, as per ProShares.

Also Read: 8 Hollywood Celebrities Buying Into Crypto Hype: Is Bitcoin Having A Red Carpet Moment?

Furthermore, the VanEck Ethereum Strategy ETF was also unveiled this Monday.

It aims at "capital appreciation" by investing in ether futures contracts.

Kyle DaCruz, VanEck's director of Digital Asset Product, expressed his enthusiasm, noting, "Although a direct digital asset exposure via a spot ETF remains elusive in the U.S., we're excited to introduce EFUT to tap into the burgeoning ETH futures market."

Bitwise also joined the fray, launching two ether futures ETFs this Monday: the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF.

Read Next: SEC Targets Prager Metis Over FTX Audit Failings: What This Means For Crypto Oversight

Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event: Future of Digital Assets. Tickets are flying: Get yours!

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Posted In: CryptocurrencyNewsMarketsETFsBitcoin Futures ETFBitwise Ethereum Strategy ETFDigital Assetsdigital currencyETH futuresexchange-traded fundsKyle DaCruzMichael L. SapirprosharesVanEck Ethereum Strategy ETF
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