US officials approved Volatility Shares' first 2x leveraged Bitcoin ETF a year ago. Now, this asset management company continues to launch the first Ethereum ETF using leverage, starting trading on June 4.
The first 2x leveraged Ethereum futures ETF is about to begin trading
Volatility Shares 2x Ethereum ETF (ticker ETHU) will become the first leveraged Ethereum ETF in the United States. The fund will begin trading on June 4 (local time).
SCOOP: The Volatility Shares 2x Ether ETF (ETHU) will become the first leveraged ether ETF available in the US Trading will begin on June 4.
— CoinDesk (@CoinDesk) May 28, 2024
By @amitoj https://t.co/3hqzNDk2fv
Leveraged ETFs are a popular financial Derivative in traditional financial markets. As Coin68 reported, Volatility Shares 2x Bitcoin Strategy 2x (transaction code is BITX) was officially listed on the stock exchange in June 2023.
At the time, Volatility Shares claimed its product was the first leveraged Bitcoin futures ETF in the US and has now been trading for about 7 months since the SEC approval.
Chia to CoinDesk , Volatility Shares Chief Investment Officer Stuart Barton said the SEC's nod could help pave the way for final approval for Ethereum spot ETFs. Last week, the SEC approved important legal documents associated with spot ETFs but still need to pass the S-1 filing to officially list on the exchange.
Mr. Barton acknowledged:
“While some details on spot ETFs are currently being discussed with the SEC, the launch of the x2 leveraged Ether ETF certainly shows the SEC's growing appetite for more crypto ETFs.”
ETH price has not changed much, currently trading around 3,848 USD.
1h chart of the ETH/ USDT pair on Binance at 11:30 AM on May 29, 2024
Meanwhile, the Bitcoin spot ETF ended a chain of 10 consecutive green days on May 24, with a total inflow of up to $2 billion.
According to data from Farside Investors , BlackRock's IBIT leads with $102.5 million. Fidelity's FBTC followed with Capital of $34.4 million, while Ark Invest's ARKB and 21Shares followed with $4.1 million on May 28.
Statistics on Bitcoin ETFs in the United States on May 28, 2024. Source: Farside Investors
But Grayscale's "fiend" GBTC recorded an outflow of up to 105.2 million USD. As a result, net Capital flow on May 28 was only positive 45 million USD.
Since launching in January, US Bitcoin spot ETFs have accumulated net Capital of $13.73 billion.
Coin68 compiled
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