Investment management company ProShares has introduced six new exchange-traded funds (ETFs) offering exposure to Ethereum’s cryptocurrency through futures contracts.
The ETFs, launched on October 17, represent the first Ether futures products available to investors. Among the new offerings are the Ether Strategy ETF (EETH), Bitcoin & Ether Equal Weight Strategy ETF (BETE), and Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) from ProShares.
By tracking Ether futures performance, the ETFs provide regulated cryptocurrency market access. ProShares’ global investment strategist touted futures ETFs as resolving regulatory challenges facing spot crypto ETFs.
The launches come as the SEC reviews potential approval of spot bitcoin ETFs. ProShares already offers the largest bitcoin futures ETF, BITO, which is up 37% year-to-date.
Meanwhile in Europe, Jacobi Asset Management recently introduced the first EU spot bitcoin ETF on the Euronext Amsterdam exchange after a year-long delay.
With major asset managers like BlackRock, Invesco, and WisdomTree angling to launch spot bitcoin ETFs in the US, ProShares has gained a first-mover advantage on Ether through its new futures products. The ETFs represent a milestone for regulated institutional crypto investment.
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