Bitwise announces launch of two Ethereum futures ETFs

Despite open approval, several companies want to launch their Ethereum ETF as early as today. The Ether price is already reacting.

The firm Bitwise Asset Management has announced the trade launch of two Ethereum futures ETFs confirmed in the US. According to a press release they launch today on the Chicago Mercantile Exchange.

While the Bitwise Ethereum Strategy ETF (AETH) trades pure Ether certificates, the second product consists of an equally weighted Bitcoin and Ethereum futures ETF.

Meanwhile, Bitwise and a number of other asset managers are awaiting official approval of their ETFs by the U.S. Securities and Exchange Commission. However, Bloomberg analyst James Seyffart expects approval in the near future through an expedited application process.

Asset manager VanEck also announced the launch of its futures ETF. According to a tweet on Saturday, the company plans to distribute ten percent of profits to Ethereum developers.

The profits will go to the Protocol Guild, an association of 150 Ethereum core developers, for the next decade and support work on the blockchain ecosystem.

In the wake of the news, the price of Ether by more than three percent. Like the launch of Bitcoin futures ETFs in the U.S. in 2021, the Ethereum ETF could now usher in a bullish phase for the second-largest cryptocurrency.