Crypto markets are spiking as the launch of three major Ethereum (ETH) futures exchange-traded funds (ETFs) debut.

Announcements today from VanEck, ProShares and Bitwise confirm the launches of futures ETFs based on the price of ETH.

Says ProShares’ CEO Michael L. Sapir,

“We have seen substantial demand from investors for access to the performance of cryptocurrencies through ETFs with the success of our Bitcoin-linked ETF, BITO, which was launched almost two years ago and has become the largest crypto-linked ETF in the world.

Now, with the launch of EETH, investors who want to target the performance of bitcoin or ether through an ETF, with all of the structure’s benefits, will not need to wait.”

ProShares is launching ProShares Ether Strategy ETF (EETH), an Ether-tracking ETF, today. ProShares is also launching two ETFs that track a blend of Bitcoin (BTC) and ETH.

Bitwise, the largest crypto index fund manager in the US also launched two Ethereum ETFs today: the Bitwise Ethereum Strategy ETF (AETH) and Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP).

Says Bitwise CEO Hunter Horsley,

“Ethereum now has billions in revenue, millions of users, and thousands of distinct apps and developers.

As the leading operating system for crypto, Ethereum has spread like wildfire. With blue-chip brands like Nike, Starbucks, Adidas, Pepsi, PayPal, JPMorgan and others building and using applications on Ethereum, the momentum is only building.1 AETH and BTOP give investors the opportunity to participate in that growth with confidence through regulated ETFs.”

VanEck announced the VanEck Ethereum Strategy ETF, (EFUT), which is structured as a C-Corp for potential tax benefits for long-term investors.

Generated Image: Midjourney

The post Crypto Markets Rise As Ethereum Futures ETFs From VanEck, ProShares and Bitwise Launch appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ October 2, 2023 7:14 pm