It was a slow start for futures-based ether exchange-traded funds (ETFs) on their first day of trading.
The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. All right, let's take a look at the chart of the day. The Coin desk Ether price X index is at around 16 50 down over 3% from yesterday. On October 2nd nine new Ether futures efs hit the market and the price reached more than $1700. The excitement though seems to have dwindled as most of the futures based funds spent their first day trading in the read. According to Dow Jones market data, the combined funds had less than $7 million in trading volume. Senior analyst at Bloomberg Intelligence, Eric Balchunas said on that yesterday was an unprecedented day with multiple EFS launching at the same time. He added that all of them were pretty average and lower than he would have predicted. With several funds launching. At the same time, it will be tough for anyone to gain market domination. But firms like Van Eck are looking for ways to differentiate themselves from the competition, ve plans to donate 10% of profits from their Ether futures ETF to Ethereum core developers. That's it for today's chart of the day. I'm Jen Senai. We'll see you next time to unpack more of the data behind top news stories.