Ethereum Futures ETFs Reaches New Record Daily Trading Volume, Due To Expectation Of Spot Approval

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Ethereum futures Exchange Traded Funds (ETFs), experienced a massive increase in day trading volume, and it reached a new all time high. This was due to the rise in expectation that the Securities and Exchange Commission (SEC), will approve spot Ethereum futures ETFs.

On the 21st of May 2024, Ethereum futures ETFs saw a surge in volume of daily trades of about $47.75 million, which was approximately a 40% surge from the peak in the past, of about $34.18 million; which was recorded on the 5th of March 2024.

ProShares' Ether Strategy ETF (EETH) topped the group, recording 90% of the trading volume, of about $43.15 million. Bitwise's Ethereum Strategy ETF (AETH) recorded $2.01 million trading volume, and VanEck's Ethereum Strategy ETF (EFUT), saw a $2.6 million trading volume.

Regardless of the new all time high daily trading volume reached, Ethereum futures ETFs, isn't at the same level in comparison to spot Bitcoin ETFs; as spot Bitcoin ETF experienced a peak daily trading volume of $9.93 billion on the 5th of March 2024.