Volatility Shares targets Ether Futures ETF on October 12

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Volatility Shares plans to have its Ether Futures ETF (ETHU) open to traders on October 12.
The firm listed its 2x Bitcoin-linked ETF (BITX) in July.

While all eyes stay on the US Securities and Exchange Commission (SEC) with regard to the a number of spot Bitcoin ETF functions earlier than it, market specialists say the primary Ethereum futures exchange-traded fund within the US is an equally large improvement.

First ETH Futures ETF for US market

Volatility Shares, one of many main ETF suppliers available in the market, has indicated plans to record its Ether Strategy ETF on October 12, 2023. The product will commerce beneath the ticker ETHU, providing the corporate’s first Ether-linked ETF and are available a couple of months after Volatility Shares’ 2x Bitcoin-linked ETF (BITX) that launched in July.

Eric Balchunas, a senior ETF analyst at Bloomberg, says Volatility Shares’s positioning for the debut of the Ether ETF might see it beat rivals amid the race to be first to market with the extremely anticipated product.

Even although the SEC hasn’t pronounced itself on ETHU, Balchunas notes that the regulator “looks to be ok” with the proposal as there hasn’t been any withdrawal. Also notable is the appliance date, which with the 75-day approval window, means the corporate is prone to be first to the market on October 12.

Nonetheless, the SEC could select to group the filings and Volatility Shares are in all probability “just pushing the envelope” as they did with their BITX providing.

Well, there’s been no withdrawals so SEC appears to be like to be comfortable with them, however re the date, he did file first so he would usually exit first. however SEC could wish to group them, he is prob simply pushing the envolope like he did w BITX

— Eric Balchunas (@EricBalchunas) August 15, 2023

Stuart Barton, the CIO of Volatility Shares has indicated that the corporate is trying to have ETHU accessible to traders earlier than they shift focus to the more and more demanded-for spot ETF market.

The SEC has notably not permitted any spot crypto ETF for the US, and the following huge resolution after a recent delay for the Ark spot Bitcoin ETF, might be on Grayscale. With the 160-day window up on Tuesday, the expectation is that this resolution comes on Friday morning.