The Crypto Roundup: 03 October 2023 | CryptoCompare.com

Ether futures exchange-traded funds (ETFs) in the United States had a slow first day of trading with less-than-stellar trading volumes reported across the board. A total of nine Ether futures ETFs were launched on Monday, with trading volumes staying below $2 million on debut.

Five of these funds will invest only in ether futures, while the other four will have a combination of bitcoin and ether futures. One of these funds, BTF, which was formerly a bitcoin-only fund by Valkyrie, is changing its name and strategy to include ether. The other funds are all new entrants.

Bloomberg ETF analyst Eric Balchunas commented that the Ether Futures ETFs had “pretty meh volume” as a group. One of the more popular ETFs, EFUT by VanEck, had a trading volume of only $425,000, with an average price of $17 per share and about 25,000 shares traded.

In comparison, ProShares’ Bitcoin Strategy ETF (BITO), had a trading volume of over $1 billion on its debut day back in October 2021, although it launched during a crypto bull market.

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• Source: https://www.cryptocompare.com/email-updates/daily/2023/oct/03/