News

After Bitcoin, Financial Giants Rush to Apply for Ethereum Futures ETFs

In its filing, Volatility Shares stated that the Ethereum futures ETFs would invest in cash-settled Ether Futures contracts traded CME.
Published by
After Bitcoin, Financial Giants Rush to Apply for Ethereum Futures ETFs

The applications for spot Bitcoin ETFs by BlackRock and other financial giants in mid-June 2023 brought strong optimism to the broader crypto community. Now, looking beyond Bitcoin, some of the financial giants are now applying for Ethereum futures ETFs.

Six companies, including Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, and Grayscale, have applied for Ethereum futures ETFs. Eric Balchunas, a senior ETF analyst at Bloomberg, reported the applications on August 1st.

In their SEC filing on July 28, Volatility Shares proposed the Ether Strategy ETF. As part of this, they would invest in cash-settled Ether Futures contracts traded on the Chicago Mercantile Exchange (CME), instead of directly investing in Ether.

After successfully launching the 2x Bitcoin Strategy ETF (BITX), the first leveraged Bitcoin futures ETF in the country, Volatility Shares has now filed a new application. The new filing aims to correspond to two times the daily excess return of the S&P CME Bitcoin Futures Daily Roll Index. In his tweet earlier this week, Balchunas wrote:

“Interesting given SEC made some recent Ether filers withdrawal. But.. VolShares just got (against the odds) a 2x Bitcoin Futures ETF out so maybe they [are] feeling confident [the] time is right.”

Ethereum (ETH) Price Up 2%, But Options Market Tells Different Story

After some selling pressure earlier this week, there’s some ray of optimism with the Ethereum (ETH) price gaining more than 2% in the last 24 hours. As of press time, ETH is trading at $1,860 with a market cap of $225 billion.

Following Bitcoin’s recent drop to $29,000, the price of Ethereum also fell below $1,900. However, after a few days of being below $1,850, the price has slightly increased once again.

Also, Ethereum options data shows a negative bias for the ETH price action over the next six months. The six-month call-put skew for Ether, a measure of the difference between implied volatilities of call and put options expiring in 180 days, has dropped to -0.91, the lowest since June 15, according to crypto data provider Amberdata.

The negative value indicates a preference for put options, which allow the buyer the right (but not the obligation) to sell the underlying asset at a predetermined price on or before a specific date. A put buyer is essentially bearish on the market, while a call buyer is bullish.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions

Standard Chartered analyst Geoff Kendrick has predicted that the Bitcoin price could suffer a significant…

October 22, 2025
  • News

Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7

Crypto ownership is a topic that has been discussed across major forums globally in the…

October 22, 2025
  • News

Robinhood Lists Binance Coin as BNB Outperforms BTC, ETH, SOL YTD By Over 30%

Crypto exchange Robinhood has listed the Binance coin for spot trading for its U.S. customers.…

October 22, 2025
  • News

Bitget Partners With Google Developer Group On Hackathon To Support AI Innovation

Bitget, a leading crypto exchange in the world, has joined forces with Google Developer Group…

October 22, 2025
  • News

Can Cardano Save Kadena? Hoskinson Reaches Out After KDA Token Plunges 60% Amid Shutdown

Kadena has announced it was shutting down operations, sending its KDA price into a freefall.…

October 22, 2025
  • News

Analyst Turn Bullish with $400 SOL Target as Hong Kong Approves First-Ever Solana ETF in Asia

Hong Kong has officially approved the region’s first-ever Solana ETF in Asia. This comes as…

October 22, 2025