Initially submitted on October 2, 2023, the proposal aims to convert the Grayscale Ethereum Trust, the largest Ethereum investment vehicle globally, into an ETF.
While Standard Chartered gives a bullish outlook on Ethereum, JPMorgan Chase analysts ask to maintain caution amid declining Ethereum network activity.
Amid the macro developments and geopolitical tensions, Bitcoin has continued to outperform the rest of the crypto market.
The reason for the surprise was that the average sale price for CrypToadz is typically under $1,000, making the sudden hundredfold increase in value in a short period of time seem questionable to experts.
The analysts stressed that centralization, whether caused by specific entities or inherent features of the protocol, presents significant risks to the Ethereum network. This
By mid-day, the ETFs had seen less than $2 million in trading volume. According to the analyst, this was “about normal” for a new ETF but low when compared to BITO, the first Bitcoin futures ETF, which did $200 million in the first 15 minutes of trading.
If approved, the move marks a significant step towards providing investors with transparent and regulated access to crypto within familiar product structures.
The launch of EFUT marks the company’s second foray into the futures ETF market.
While the recent price surge brought joy to long-term investors and HODLers, short sellers are notably facing a different fate.
Ethereum co-founder Vitalik Buterin also raised concern regarding the concentration of Ethereum’s liquid staking providers.
Despite this major shuffle by FTX exploiter, Ethereum price has gained to $1,750 levels before the launch of Ethereum futures ETFs.
VanEck will not invest in Ethereum directly since the product tracks Ether futures that are traded on the Chicago Mercantile Exchange (CME).
According to analysts, there are 15 Ether futures ETFs awaiting approval.
Just a few hours ago, the Ethereum founder deposited 400 ETH to Coinbase. With the price of ETH at $1,573.35 as of the time of writing, the value of the transfer amounts to an impressive $629,200.
Grayscale’s decision to file for an Ether futures ETF comes on the heels of a significant legal victory against the US Securities and Exchange Commission (SEC).