The crypto community's eyes have been on the performance of the highly anticipated Ethereum futures exchange-traded fund (ETF) that launched this week.

However, analysts have provided an explanation as to why the initial week did not meet expectations in terms of price and value.

The crypto community's eyes have been on the performance of the highly anticipated Ethereum futures exchange-traded fund (ETF) that launched this week.

However, analysts have provided an explanation as to why the initial week did not meet expectations in terms of price and value.

Lack of Significant Attraction for Ethereum Futures ETFs

The launch of several Ethereum Future ETFs this week has left many speculators who have been waiting for more than a year disappointed.

Nine Ethereum Futures ETFs were introduced to the market this week. It was launched by investment firms ProShares, VanEck, Bitwise, Valkyrie, Kelly, and Volshares.

However, after launching on October 2, Ether Futures attracted less than $2 million in flows, according to a recent report .

Anticipating the price increase, the price of Ethereum rose about 4.5% to reach $1,734 the day before its launch, on October 1. However, the price closed on October 2 at $1,659, marking a decline of 4%.

At the time of publication, the price of Ethereum was $1,643.

On October 2, the six funds accumulated a total trading volume of $1.92 million. However, the largest among them, the ProShares Ether Strategy ETF, made a significant contribution with a trading volume of $878,560, which was 45.7% of the total volume.

This represents a stark contrast compared to the rapid achievement of $1 billion in flows in just two days for the ProShares Bitcoin Strategy ETF (BITO) at its launch in 2021. However, the crypto market as a whole was in a strong phase at that time.

Meanwhile, another user on X (formerly Twitter) highlighted that it represents only 0.2% of trading volume compared to the initial day of Bitcoin futures trading.

However, there is no need to worry. According to Eric Balchunas, senior ETF analyst at Bloomberg, this has happened before:

“Every crypto-related launch tends to be a ‘buy the rumour, sell the news’ event,”