Kaiko suggests why futures Ethereum ETFs release was lackluster
In the past week, six futures-based Ethereum ETFs commenced trading on U.S. markets, securing regulatory approval from the SEC earlier than anticipated. However, these ETFs failed to generate significant trading volumes or provide a notable boost to the cryptocurrency markets. An underwhelming response Kaiko reports that of the six ETFs, the two with the highest trade volume, VanEck’s EFUT and ProShares EETH, experienced an average daily trading volume of only $500,000 during their first week of trading. To put this in context, the first Bitcoin futures ETF, ProShares Bitcoin Strategy (BITO), managed to amass over $1 billion in trade volume on its initial trading day. Since the Merge, #ETH has underperformed #BTC in terms of both price and volume. Our latest research breaks down the trend: https://t.co/C85zfASkHn pic.twitter.com/aqiyqeKeEN — Kaiko (@KaikoData) October 10, 2023 However, the report attributes ETH’s underperformance to the impact of the current bear ma...