The six ether futures exchange-traded funds (ETFs) launched by ProShares, VanEck, and Bitwise have seen underwhelming demand in their first week of trading. These ETFs have gathered less than $20 million in combined assets, significantly lower than the first bitcoin futures ETF, which reached $1 billion in assets in its first few days. The lack of growth in the ether futures ETFs is attributed to factors such as the higher Treasury bill yield compared to the ETH staking yield and lackluster on-chain activity. Bloomberg Intelligence analysts suggest that financial advisers may largely ignore these ETFs due to their high sensitivity to short-term fluctuations in the asset and the expected breakdown in tracking spot prices over time. Industry watchers believe that investors may prefer to get direct exposure to Ethereum or opt for thematic equity-based crypto and blockchain ETFs.
AI Sentiment: Negative