On July 28, Volatility Shares submitted a filing for their ether futures ETF. In the event that the SEC does not reject the application, the first Ethereum futures ETF might launch on October 12. Following the buzz surrounding the bitcoin spot ETF a few weeks ago, as many as six organizations have submitted applications with the U.S. Securities and Exchange (SEC) for ether (ETH) futures-based exchange-traded funds (ETFs). Volatility Shares Ether Strategy ETF was the first to file, doing so on July 28. When Volatility Shares’ 2x Bitcoin Strategy ETF (BITX) became the first leveraged cryptocurrency ETF available in the United States in June, the company gained notoriety.
On August 1, the following exchange-traded funds (ETFs) had filed: Bitwise Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, and Grayscale Ethereum Futures ETF. According to a person familiar with the procedure, the SEC has historically never approved any ETF applications tracking Ethereum futures contracts despite the fact that roughly 10 have been submitted. If the SEC does not reject the applications, Volatility Shares would be the first Ether ETF to begin trading on October 12 and the others would follow 75 days after the filing date.
A surge of applications for spot-bitcoin ETFs came into focus, especially after BlackRock initially filed on June 15 and then refiled in early July with Coinbase as a surveillance-sharing partner. This sparked enthusiasm in the cryptocurrency market surrounding crypto-related ETFs. The first in line is the ARK 21Shares Bitcoin ETF, followed by the iShares Bitcoin Trust from BlackRock, the Bitcoin ETP Trust from Bitwise, the WisdomTree Bitcoin Trust, the Wise Origin Bitcoin Trust from Fidelity, the VanEck Bitcoin Strategy ETF, the Invesco Galaxy Bitcoin ETF, and the spot-bitcoin ETF from Valkyrie.
The SEC should accept all spot bitcoin exchange-traded fund (ETF) applications simultaneously, according to Grayscale, which sued the SEC after it was denied its request to convert its trust product into an ETF. This would ensure that all applicants receive equal treatment.