Key Takeaways
- 18 Ethereum ETFs were submitted this month.
- ARK & 21Shares seek two new Ethereum futures ETFs.
Yesterday, ARK Invest and 21Shares submitted applications for two new Ethereum futures ETFs to the Securities and Exchange Commission (SEC).
The first, named the Active Ethereum Futures ETF (ARKZ), is dedicated to Ethereum derivatives only. The second, the Active Bitcoin Ethereum Strategy ETF (ARKY), will encompass both Bitcoin and Ethereum futures. Both products will invest in Ether futures that are cash-settled via the Chicago Mercantile Exchange.
According to the filing, the Active Ethereum Futures ETF plans to allocate over 25% of its assets to Ether futures, with the remaining assets diversified into liquid, short-term investments such as U.S. Treasuries, money market instruments, and repurchase agreements. The Active Bitcoin Ethereum Strategy ETF also plans to allocate more than 25% of its assets to Ether futures, balancing the remainder with liquid, short-term assets.
This development follows closely on the heels of a report from Bloomberg last week, which suggested that the SEC might be on the verge of approving an Ethereum ETF that invests in futures.
August witnessed a flurry of activity in this sector, with 18 different Ethereum ETFs submitted to the SEC. These applications came from a variety of funds, including Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, Grayscale, Direxion, Kelly ETFs, and Valkyrie. Of these 18 ETFs, 10 are exclusively Ethereum-based, while the other eight propose a mix of Bitcoin and Ethereum investment strategies.
Notably, the Ether Strategy ETF by Volatility Shares is the first exclusive ETH ETF in the lineup, with an expected approval date of October 11. Additionally, in the BTC and ETH mix, the Direxion Bitcoin Ether Strategy ETF is slated for potential approval on October 16.
At the time of writing, Ethereum is trading at $1,649, showing almost no change in the last 24 hours, according to CoinGecko.