Valkyrie’s BTF, the most highly sought-after among futures ETF offerings, stands out by tracking a hybrid blend of Bitcoin and Ether. This dynamic asset has achieved an impressive total trading volume, amounting to a substantial $882,000.

It is worth noting that BTF initially functioned as a Bitcoin-only futures ETF since October 2021 but strategically adapted by incorporating Ether.

However, the debut trading volumes of Ether ETFs pale in comparison to the ProShares Bitcoin Strategy ETF (BITO), which entered the market in October 2021 amidst a fervent crypto market. BITO achieved a remarkable feat, witnessing an astonishing trading volume that exceeded $1 billion on its first day.

In relation to this, the upcoming listing of the VanEck Ethereum Strategy ETF on the CBOE exchange adds intrigue to the evolving landscape.

Nevertheless, it is important to emphasize that, when compared to traditional finance ETF launches, the volume of these ETFs is indeed quite substantial. However, it is a well-known fact that investors typically show a preference for spot ETF products over futures.

As Balchunas aptly explained, the synchronized launch of all these products on the same day was a strategic move by the SEC to prevent any single fund from attaining market dominance.

At the same time, as numerous U.S. firms compete for supremacy in the growing Ether futures market, ETF firm Volatility Shares has decided to abandon its plans to list a similar product. Their reasoning is based on the belief that the current moment does not present a favorable opportunity for such a venture.