As many as six entities have filed applications with the U.S. Securities and Exchange (SEC) for ether (ETH) futures-based exchange-traded funds (ETFs), following the recent hype surrounding bitcoin spot ETFs. The first to file was Volatility Shares Ether Strategy ETF on July 28, who had previously made headlines in June when their 2x Bitcoin Strategy ETF (BITX) became the first leveraged crypto ETF available in the U.S.
By August 1, five more entities had filed applications within 24 hours: Bitwise Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, and Grayscale Ethereum Futures ETF. Historically, the SEC has never approved any ETF applications tracking Ethereum futures contracts and nearly 10 have been filed previously.
If the SEC doesn’t deny the applications, the Ether ETFs will launch 75 days from the filing date and Volatility Shares would be the first on Oct. 12, with the others to follow. This excitement in the crypto market around crypto-related ETFs was triggered by a wave of applications for spot-bitcoin ETFs, particularly after BlackRock first filed on June 15 and then refiled in early July with Coinbase as a surveillance-sharing partner.
Grayscale, who sued the SEC for denying its application to convert its trust product into an ETF, has said that the SEC should approve all spot bitcoin exchange-traded fund (ETF) applications simultaneously if it approves any, to grant equal treatment to all applicants.