Ether is already the second most popular crypto currency, behind bitcoin, but the arrival of the ETFs may make it easier for certain types of investors to gain exposure to that part of the crypto market.
The number of ETFs tied to cryptocurrencies is expanding dramatically in the first week of October, with a wave of funds that buy ether futures launching on Monday. , which holds about $900 million in assets. The fund has slightly lagged the price of spot bitcoin since inception in 2021, when bitcoin was near an all-time high."The thing that people wanted to find out was would a bitcoin futures ETF do its job? Would it track the performance of bitcoin? And in fact it has done that quite well," said Simeon Hyman, head of the investment strategy group at ProShares.