ProShares operates several funds and a bitcoin futures ETF. The new filing proposes the creation of an exchange-traded fund that would invest in equal proportion in ether and bitcoin futures.
In recent days, the company has filed four applications for ether ETFs at once. These include a dual strategic fund for bitcoin and ether futures, a fund for ETH declines and a separate strategic ETF for ether futures.
There are now 11 applications pending with the SEC to launch ether futures ETFs. Volatility Shares, which filed for a strategic ether ETF on July 28, started the wave. Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares and Grayscale Investments also submitted bids.
If the SEC approves the filings, the first ETF for ether futures will appear on Oct. 12. That would be the Ether Strategy ETF from Volatility Shares. So far, however, regulators haven’t given the go-ahead to launch such funds, although bitcoin ETFs have been around since 2021.
Earlier, former CFTC lawyer Mike Selig suggested that if spot bitcoin ETFs are allowed to launch in the U.S., exchange-traded funds tied to ether and the Ripple cryptocurrency would be next in line.