First Mover Americas: Ether ETFs Struggle to Gain Traction in First Week
The latest price moves in crypto markets in context for Oct. 6, 2023.
The latest price moves in crypto markets in context for Oct. 6, 2023.
Initial action suggested only very modest interest in the first U.S. futures-based ether ETFs.
The latest price moves in crypto markets in context for Oct. 3, 2023.
Bitcoin slumped below $28,000, and ether dipped below $1670.
“Pretty meh volume” for the group, said one analyst.
Traders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism.
There’s a “90% chance” an ether futures ETF will be traded in the first week of October, one analyst said.
The fund’s new strategy to combine ether and bitcoin will be effective formally on Oct. 3.
VanEck Ethereum Strategy ETF (EFUT) will invest in ETH futures contracts traded on commodity exchanges registered with the CFTC.
SEC recently extended deadlines for ARK, GlobalX spot bitcoin ETFs due to a looming government shutdown.