Tectono Business Review: BIG US ASSET MANAGERS FILE FRESH ETHER FUTURES ETFS LAUNCH APPLICATIONS

Thursday, 3 August 2023

BIG US ASSET MANAGERS FILE FRESH ETHER FUTURES ETFS LAUNCH APPLICATIONS

Many big asset managers have filed fresh applications to launch Ether futures ETFs to United States customers.

Separate filings submitted to the U.S. Securities and Exchange Commission (SEC) outline respective applications from Grayscale, VanEck, Bitwise, Volatility Shares, ProShares and Round Hill Capital.

Grayscale’s filing includes two applications: a proposed Grayscale Global Bitcoin Composite ETF and a Grayscale Ethereum Futures ETF.

Grayscale’s Ether ETF will invest in futures contracts that are set to be traded on the Chicago Mercantile Exchange.

Volatility Shares outlined plans to list an Ether futures ETF, investing its assets in cash-settled contracts referencing ETH trading on the Chicago Mercantile Exchange.

VanEck’s filing indicates that its investment strategy will look to invest in ETH futures contracts so that the value of ETH that the fund has exposure to is equal to 100% of the total assets of the fund.

ProShares gave an overview of their Short Ether Strategy ETF, which will invest in daily contracts that look to profit on losses of the S&P CME Ether Futures index.

These applications come in the wake of recent applications from various mainstream asset management firms looking to launch Bitcoin ETFs.

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Thursday, 3 August 2023

BIG US ASSET MANAGERS FILE FRESH ETHER FUTURES ETFS LAUNCH APPLICATIONS

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