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Ether ETFs Surge in October

October's first week sees a significant uptick in cryptocurrency-related ETFs, notably with several funds investing in ether futures making their debut on Monday.

While Bitcoin remains the top cryptocurrency, Ether's standing as the second-favorite is solidified. The introduction of these ETFs could simplify the process for specific investors to delve into this segment of the crypto realm.

"Financial professionals such as advisors, family offices, and registered investment advisors are likely the main long-term consumers of these products," noted Matt Hougan, Bitwise's CIO. "While retail traders can access ethereum via the Coinbase app, it's not the same for a financial expert who doesn't typically invest using a phone."

Launching on Monday, the ether futures products and their respective net expense ratios include:

For context, Bitcoin futures ETFs, like the ProShares Bitcoin Strategy ETF (BITO) holding roughly $900 million in assets, have been available. Since its 2021 start, when Bitcoin neared its record high, this fund has slightly trailed Bitcoin's direct price.

Addressing performance concerns, Simeon Hyman, the investment strategy group's leader at ProShares, commented, "Many were curious if a bitcoin futures ETF would reflect bitcoin's performance effectively. It has, indeed, mirrored it impressively."

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Posted: 2023-10-03
By: dwirch
Viewed: 234 times





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