Leading the pack of Ethereum futures ETFs are major financial players ProShares and VanEck. VanEck, known for its bold advancements in ETF innovation, is now in the spotlight with its Ethereum strategy ETF.
The ETF has received the coveted approval from the U.S. Securities and Exchange Commission (SEC) and is currently trading on the Chicago Board Options Exchange (CBOE) under the clearly visible symbol EFUT.
There’s also excitement around Bitwise Asset Management. Bitwise has launched two Ethereum futures ETFs, the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ethereum Equal Weight Strategy ETF (BTOP).
In addition to the high risk, Grayscale Investments is now seeking approval from the U.S. Securities and Exchange Commission (SEC) to transform its Ethereum Trust into a spot Ethereum ETF. The trust manages a massive $5 billion in assets, demonstrating Grayscale’s significant footprint in the cryptocurrency space.
But the fact is
The launch of the Ethereum futures ETF got off to a rocky start compared to the first-ever Bitcoin futures ETF, BITO, which attracted an incredible $200 million in trading volume in just 15 minutes of its debut.
On the other hand, the excitement generated by the launch of nine new Ethereum futures exchange-traded funds (ETFs) does not seem to have brought much investment gains. On October 2, the nine new ETF products launched to track futures and futures contracts tied to the value of Ethereum’s native currency Ether. As of the first day of trading, the total trading volume of all nine ETFs was less than $2 million.
Other hot spots
Hacker attacks surge 150%, resulting in $685 million in losses
As hacker groups become more sophisticated, the crypto industry faces growing threats. Blockchain security firm ImmuneFi reported a 153% surge in cryptocurrency hacking incidents in the third quarter of 2023, with the number of incidents surging to 76 in the third quarter from 30 in the same period last year.
Losses from hacks and fraud rose to more than $685 million in the third quarter, up 60% from about $429 million in the same period last year. Hackers accounted for the vast majority of losses, accounting for 97%, while fraud and scams accounted for only 3%. Decentralized finance (DeFi) protocols suffered the majority of losses, with nearly $500 million, while centralized exchanges and services had more than $185 million stolen.
UBS launches first tokenized fund on Ethereum
UBS is working with the Central Bank of Singapore to bring real-world assets on-chain.
UBS Asset Management has launched a live pilot of the first tokenized variable capital company (VCC) fund in Singapore, marking a major milestone in bringing real-world assets on-chain.
The fund is part of Project Guardian, an industry collaboration led by the Monetary Authority of Singapore (MAS) to explore the tokenization of various real-world assets.
The company launched a controlled pilot of a tokenized money market fund on the Ethereum blockchain, using UBS’s in-house tokenization service, UBS Tokenize. This allows activities such as fund subscriptions and redemptions to be conducted on-chain.
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