Race for Ether Futures ETFs Kicks Off With 6 Firms Filing SEC Applications

First off the block was Volatility Shares Ether Strategy ETF, which filed on July 28. Volatility Shares came into the spotlight in June, when its 2x Bitcoin Strategy ETF (BITX) became the first leveraged crypto ETF available in the U.S.

By August 1, Bitwise Ethereum Strategy ETFVanEck Ethereum Strategy ETFRoundhill Ether Strategy ETFProShares Short Ether Strategy ETFGrayscale Ethereum Futures ETF had filed within 24 hours.

Historically, the SEC has never approved any ETF applications tracking Ethereum futures contracts and nearly 10 have been filed previously, a person familiar with the process told CoinDesk.

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.

The excitement in the crypto market around crypto-related ETFs was triggered after a wave of applications for spot-bitcoin ETFs came into focus, particularly after BlackRock first filed on June 15 and then refiled in early July with COINBASE as a surveillance-sharing partner.

ARK 21Shares Bitcoin ETF is first in the queue among the others including BlackRock's iShares Bitcoin TrustBitwise's Bitcoin ETP Trust, Fidelity's Wise Origin Bitcoin TrustWisdomTree Bitcoin TrustVanEck Bitcoin Strategy ETFInvesco Galaxy Bitcoin ETFValkyrie’s spot-bitcoin ETF.

Grayscale, which 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.

Grayscale is a subsidiary of Digital Currency Group, the parent company of CoinDesk.

Grayscale is a subsidiary of Digital Currency Group, the parent company of CoinDesk.

Read More: Despite BlackRock, Don’t Expect a Flood of Spot-Bitcoin ETFs Soon: Experts