During the first 15 minutes of trading, the volume of the Ethereum-ETF based on CME futures did not exceed $2 million, in contrast to similar Bitcoin-based instruments whose volume was 100 times higher at debut.
According to Bloomberg analyst Eric Balchunas, these numbers are typical for new ETFs, but small for an asset the size of Ethereum.
Balchunas added that Valkyrie’s product, which includes both Bitcoin and Ethereum, saw the highest volume at $787,000, while VanEck’s Ethereum futures-only ETF only saw $300,000.
In total, the six Ethereum futures-based ETFs had a daily volume of $1.92 million, with ProShares Ether Strategy ETF accounting for $879,000.
A key difference between these products is the commission fees.
Aisha Hunt, the CEO of Kelley Hunt & Charles, cautioned against seeing the launch of these Ethereum-based products as a sign of the SEC’s readiness to approve Bitcoin spot ETFs. She stated that applicants will continue to face significant barriers.
