Multiple sources have confirmed that three firms will launch up to six Ether futures ETF products next week. The development comes after increased confidence that the Securities and Exchange Commission (SEC) would approve several ether-focused ETFs before a government shutdown.
The firms – Bitwise, VanEck, and Proshares – announced that they intend to launch their ether futures ETFs on Monday, with each already looking to compete for investors on its launch on the said date.
VanEck’s Ether Futures ETF
The New York-based asset manager announced on Thursday that it would launch its Ether futures ETF on Monday. Termed the Ethereum Strategy ETF (EFUT), the funds will invest in standardized, cash-settled ETH futures contracts.
VanEck announced that the funds will invest in the Chicago Mercantile Exchange, and Greg Krenzer, Head of Active Trading for VanEck, will actively manage the funds. The asset manager already has an active bitcoin futures ETF.
Bitwise‘s Ether Futures ETF
The San Francisco-based asset manager announced on Friday that it intends to launch two Ether futures ETF products on Monday. The Bitwise Ethereum Strategy ETF (AETF) would invest in regulated Chicago Mercantile Exchange (CME) Ether focused on front-month contracts, and the Bank of New York Mellon would manage the funds at a 0.85% expense ratio.
The Bitwise Bitcoin and Ether Equal Weight Strategy (BTOP) will invest with equal exposure to regulated CME Bitcoin futures and CME Ether futures. The Bank of New York Mellon will also manage the funds at an expense ratio of 0.85%.
Proshare’s Ether Futures ETF
Proshare announced on Friday that it would launch three new ether futures ETFs on Monday, joining the frenzy. It will unveil the Proshare Ether Strategy ETF (EETH), the Proshare Bitcoin and Ether Market Cap Weight Strategy ETF (BETH), and the Proshare Bitcoin and Ether Equal Weight Strategy ETF (BITO).
Proshare will launch them at an equal expense ratio of 0.95% or 95bps, the highest among its rivalries ahead of Monday’s launch.
Valkyrie Backtracks
The asset manager earlier declared its intention to launch an ether futures ETF as early as Monday. However, in a filing with the SEC on Friday, the firm stated that it would not purchase an Ether futures ETF product in advance and would wait for the US regulator to approve them officially.
It is unclear why the asset manager had a change of mind from its initial plan, but reports cited a threat from the SEC. The outcome of the long-awaited Ether futures ETF launch will be one investors are eager to watch unfold.
