{"id":69808,"date":"2023-10-07T05:54:56","date_gmt":"2023-10-07T09:54:56","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/proshares-launches-six-ether-futures-etfs-expanding-crypto-etf-market\/"},"modified":"2023-10-07T05:54:59","modified_gmt":"2023-10-07T09:54:59","slug":"proshares-launches-six-ether-futures-etfs-expanding-crypto-etf-market","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69808","title":{"rendered":"ProShares Launches Six Ether Futures ETFs, Expanding Crypto ETF Market"},"content":{"rendered":"
\n

Investment management firm\u00a0ProShares Advisors<\/strong>\u00a0has introduced six new futures products for Ether, marking the cryptocurrency’s debut in the ETF market.\u00a0<\/p>\n

The newly launched ETFs, released on Monday, offer investors exposure to Ether through futures contracts rather than direct investment in the cryptocurrency.<\/p>\n

Among the new ETFs, ProShares Advisors is behind three: Ether Strategy ETF (EETH), Bitcoin & Ether Equal Weight Strategy ETF (BETE), and Bitcoin & Ether Market Cap Weight Strategy ETF (BETH).\u00a0<\/p>\n

By tracking the performance of Ether futures contracts, these ETFs bring regulated exposure to the cryptocurrency market.<\/p>\n

\u201cWhat we know is the futures ETFs are here today and what\u2019s important about that is that the regulated futures market resolves a lot of the challenges as the spot market is maturing,\u201d Simeon Hyman, ProShares\u2019 global investment strategist,\u00a0told CNBC\u2019s \u201cETF Edge\u201d\u00a0on Monday.<\/p>\n

The U.S. Securities and Exchange Commission (SEC) is currently reviewing the potential approval of a spot bitcoin ETF.\u00a0<\/p>\n

This comes after a judge ruled against the SEC’s argument to prevent the conversion of a Grayscale Bitcoin Trust (GBTC) into an ETF.<\/p>\n

Previously, the SEC had consistently rejected similar products in recent years.\u00a0<\/p>\n

In contrast, ProShares manages the Bitcoin Strategy ETF (BITO), the largest bitcoin futures ETF available, which has shown impressive growth of over 37% year to date.<\/p>\n

\u201cWe have a full suite of crypto solutions,\u201d said Hyman. \u201cWe\u2019re the largest crypto ETF provider.\u201d<\/p>\n

The BETE and BETH ETFs offer exposure to two of the most prominent cryptocurrencies, making them logical additions to ProShares’ product lineup.<\/p>\n

EU’s First Spot Bitcoin ETF Goes Live<\/strong><\/h2>\n

Last month, London-based Jacobi Asset Management announced the release of\u00a0Europe\u2019s first spot Bitcoin\u00a0ETF, which will be listed on the EuroNext Amsterdam Exchange.<\/p>\n

The ETF went live after a\u00a0one-year<\/u>\u00a0delay due to unfriendly market conditions after it received approval from the Guernsey Financial Services Commission (GFSC) in October 2021.\u00a0<\/p>\n

The fund charges its clients a 1.5% annual management fee with authorized participants including Jane Street and DRW.\u00a0<\/p>\n

The launch of the EU’s first spot Bitcoin ETF comes amid a surge in applications for such products in the US.\u00a0<\/p>\n

In June, asset management firm\u00a0Blackrock<\/strong>\u00a0filed paperwork\u00a0for a spot Bitcoin ETF, prompting other players like\u00a0Invesco<\/strong>\u00a0and\u00a0Wisdom Tree<\/strong>\u00a0to follow suit\u00a0or reapply for their own Bitcoin ETF products.<\/p>\n

The\u00a0Chicago Board Options Exchange (CBOE)\u00a0<\/strong>also filed a bid with the SEC on behalf of Fidelity for a spot Bitcoin ETF.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investment management firm\u00a0ProShares Advisors\u00a0has introduced six new futures products for Ether, marking the cryptocurrency’s debut in the ETF market.\u00a0 The newly launched ETFs, released on Monday, offer investors exposure to Ether through futures contracts rather than direct investment in the cryptocurrency. Among the new ETFs, ProShares Advisors is behind three: Ether Strategy ETF (EETH), Bitcoin […]<\/p>\n","protected":false},"author":1,"featured_media":69809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-69808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nProShares Launches Six Ether Futures ETFs, Expanding Crypto ETF Market | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investment management firm\u00a0ProShares Advisors\u00a0has introduced six new futures products for Ether, marking the cryptocurrency's debut in the ETF market.\u00a0The\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=69808\" \/>\n<meta property=\"og:locale\" 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