Six Entities File Applications for Ether ETFs with SEC Following Bitcoin ETF Hype

Six Entities File Applications for Ether ETFs with SEC Following Bitcoin ETF Hype

Several entities have recently filed applications with the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds (ETFs) based on ether (ETH) futures, echoing the excitement generated by the bitcoin spot ETF hype in recent weeks.

Leading the pack was the Volatility Shares Ether Strategy ETF, which submitted its application on July 28. The spotlight fell on Volatility Shares back in June when it launched the first leveraged crypto ETF in the U.S., the 2x Bitcoin Strategy ETF (BITX).

As of August 1, additional companies filed applications for their own ether ETFs, including Bitwise Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, ProShares Ether Strategy ETF, and Grayscale Ethereum Futures ETF.

It is worth noting that the SEC has never previously approved any ETF applications based on Ethereum futures contracts, despite nearly ten previous filings, according to a source familiar with the process, as reported by CoinDesk.

Assuming the SEC does not reject the applications, the Ether ETFs are set to launch 75 days after their respective filing dates. The Volatility Shares Ether Strategy ETF would be the first to hit the market on October 12, with the others to follow suit.

The buzz surrounding crypto-related ETFs intensified after numerous applications for spot-bitcoin ETFs surfaced, particularly following BlackRock’s initial filing on June 15 and subsequent refiling in early July, where Coinbase was named as a surveillance-sharing partner.

Among the contenders for spot-bitcoin ETFs, ARK 21Shares Bitcoin ETF leads the way, alongside BlackRock’s iShares Bitcoin Trust, Bitwise’s Bitcoin ETP Trust, Fidelity’s Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Strategy ETF, Invesco Galaxy Bitcoin ETF, and Valkyrie’s spot-bitcoin ETF.

Grayscale, a subsidiary of Digital Currency Group and the parent company of CoinDesk, is no stranger to the ETF arena. Having previously sued the SEC after the denial of its application to convert its trust product into an ETF, Grayscale now advocates for equal treatment, insisting that if the SEC approves any spot bitcoin exchange-traded fund (ETF) applications, it should do so for all applicants simultaneously.