First day of trading starts for ether ETFs

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First day of trading starts for ether ETFs

The first day of trading was a slow start for futures-based ether ETFs. There were nine ETFs offering exposure to ether futures on Monday, and one of them came to market with a net value of more than $600 million. Five will hold only ether futures, while four will hold a mix of bitcoin and ether futures. One of those funds is Valkyrie's Bitcoin Strategy ETF, which has been in existence as a bitcoin-only fund for about two years, but is changing its strategy to include ether. The rest of the vehicles are new to the market. Among the more popular ETFs today, VanEck's Ethereum Strategy ETF traded just shy of 25,000 shares at a price roughly averaging $17 per share on Monday for a total dollar volume of just $425,000. On its first day, the ProShares Bitcoin Strategie ETF, which was launched in October 2021 amid a raging crypto bull market, reported trading volume of more than $1 billion.

Bankman-Fried wants to stop the government from calling numerous witnesses, including company investors and a Ukrainian customer left bereft by the collapse of his FTX exchange, according to court filings made just hours before his trial is due to begin. Bankman-Fried, who has pleaded not guilty to multiple counts of fraud, doesn't want former company insiders testifying about the meaning of supposedly 'coded' expressions used as part of an alleged conspiracy to misuse customer funds. While prosecutors at the US Department of Justice want former customers and investors to testify about how they understand FTX would safeguard their assets, Bankman-Fried's lawyer Mark Cohen said in a filing published Tuesday that the request was 'premature' and would prompt members of the jury to conclusions they should draw for themselves.