Volatility Shares Kicks Off Race for Ether Futures ETFs, 5 Others Follow With SEC Applications

Volatility Shares filed for its ether futures ETF on July 28.
The first ether futures ETF could go live on Oct. 12, if the SEC does not deny the application.

As many as six entities have filed applications with the U.S. Securities and Exchange (SEC) for ether (ETH) futures-based exchange-traded funds (ETFs), following the bitcoin spot ETF hype some weeks ago.

First off the block was Volatility Shares Ether Strategy ETF application, 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, other companies had filed for the Bitwise Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, ProShares Ether Strategy ETF and Grayscale Ethereum Futures ETF.

Historically, the SEC has never approved any ETF applications tracking Ethereum futures contracts, though 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 Trust, Bitwise's Bitcoin ETP Trust, Fidelity's Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Strategy ETF, Invesco Galaxy Bitcoin ETF and Valkyrie’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.

UPDATE (Aug. 2, 2023, 13:30 UTC): Adds seventh filing.

Edited by Parikshit Mishra and Nikhilesh De.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Consensus

02

04

30

10

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

Volatility Shares, Bitwise, VanEck, Roundhill, ProShares and Grayscale have filed applications with the SEC for Ether ETFs.

10 Years of Decentralizing the Future