Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The crypto space is on the verge of another potentially historic moment with the first Ethereum Futures ETF in the US. Volatility Shares, a pioneer in the ETF space, has announced its intention to launch the Ether Strategy ETF (Ticker: ETHU) on October 12, 2023. If all goes as planned, this could mark the first Ether based exchange traded fund (ETF) in the United States. First Ethereum Futures ETF Is Set To Launch In The US Volatility Shares has positioned the ETF around cash-settled Ethereum futures contracts trading on the CBOE. Notably, the ETF avoids direct investment in Ether itself. “The Fund is an exchange-traded fund that seeks to achieve its investment objective by investing its assets principally in cash-settled contracts referencing Ether… The Fund does not invest directly in Ether,” reads the SEC filing. Related Reading: Ethereum Price Prints Bearish Technical Pattern, Why It Could Extend Losses Stuart Barton, the CIO of Volatility Shares, voiced his optimism, saying, \u201cVolatility Shares successfully launched the first 2x Bitcoin-linked ETF (BITX) in July and believes that ETHU is the next logical step before turning our forces to spot markets.\u201d Eric Balchunas, senior ETF Analyst for Bloomberg, weighed in on the audacity of Volatility Shares’ aggressive timeline: “VolatilityShares announcing they intend to list their Ether Futures ETF on Oct 12th (which would be a day or two ahead of the rest of pack (if the 75 days is adhered to).. they did same thing w $BITX”. When prompted on the likelihood of SEC’s approval, he remarked, “Well, there’s been no withdrawals so SEC looks to be okay with them … he\u2019s probably just pushing the envelope like he did w BITX”. While Volatility Shares leads the pack, they’re not alone in this pursuit. A total of 13 heavyweight financial institutions, including names like Bitwise, VanEck, Vakyrie, Roubhill, ProShares, and Grayscale, have sought the US SEC’s blessings for their Ether Futures ETFs. However, as of now, the SEC hasn’t given its green signal to any. Will Ether Echo BTC’s 2021 Surge? Remarkably, the first Bitcoin futures ETF in the US was launched back on October 19, 2021. At that time, ProShares won the race for the first mover effect. And this has paid off. The total assets in Bitcoin futures ETFs accounts to $1.3 billion. Of that, nearly $1.1 billion is in the ProShares Bitcoin Strategy ETF (BITO). The second largest ETF is the ProShares Short Bitcoin Strategy ETF with $73 million. No other ETF has more than $50 million in assets under management. Related Reading: BALD Deployer Moves Proceeds Of The Rug From Base To Ethereum When the first Bitcoin futures ETF was launched, BTC was in the midst of the 2021 bull run. In the run-up to the futures ETF launch, BTC put on a 60% rally from Oct. 1 to Oct. 19, rising 60% to $66,970. In the next seven subsequent days, BTC saw a correction of about 14% before Bitcoin continued its rally to the all-time high near $69,000. Whether the ETH price will experience a similar euphoria as Bitcoin in 2021 remains to be seen. At least the environment is different. While BTC was in a full blown bull market, the crypto market is currently in a phase of stagnation, possibly before the start of a new bull market. However, without a doubt, the first Ethereum Futures ETF has the potential to be a catalyst for the ETH price. At the time of writing, ETH was trading at $1,826, just above the key support of the 38.2% Fibonacci retracement level. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":547452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[428,1119,8323,1946,89129,89130],"class_list":["post-547451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bitcoin","tag-btc","tag-eth","tag-ethereum","tag-ethereum-futures-etf","tag-volatility-shares"],"acf":[],"yoast_head":"\n
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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Futures ETF To Launch On Oct 12, Will ETH Echo BTC’s 2021 Surge?","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-futures-etf-oct-12-eth-echo-btc-2021-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-futures-etf-oct-12-eth-echo-btc-2021-surge\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-904735154-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-904735154-1.jpg?fit=1254%2C836"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","eth","ethereum","ethereum futures etf","volatility shares"],"dateCreated":"2023-08-16T08:15:05Z","datePublished":"2023-08-16T08:15:05Z","dateModified":"2023-08-16T08:15:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Futures ETF To Launch On Oct 12, Will ETH Echo BTC’s 2021 Surge?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-futures-etf-oct-12-eth-echo-btc-2021-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-futures-etf-oct-12-eth-echo-btc-2021-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-904735154-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-904735154-1.jpg?fit=1254%2C836\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"eth\",\"ethereum\",\"ethereum futures etf\",\"volatility shares\"],\"dateCreated\":\"2023-08-16T08:15:05Z\",\"datePublished\":\"2023-08-16T08:15:05Z\",\"dateModified\":\"2023-08-16T08:15:05Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/iStock-904735154-1.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/547451"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=547451"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/547451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/547452"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=547451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=547451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=547451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Ethereum](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/ETHUSD_2023-08-16_09-22-25.png?resize=3628%2C1672\")