First day of trading for ether ETFs starts

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First day of trading for ether ETFs starts

It was a slow start for the first day of trading for futures-based ether ETFs. A total of nine ETFs offering exposure to ether futures came into market on Monday. Five have held only ether futures and four will hold a mix of bitcoin and ether futures. One of those funds, Valkyrie's Bitcoin Strategy ETF - soon to be renamed - 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. VanEck's Ethereum Strategy ETF traded just shy of 25,000 shares at a range of $17 per share on Monday for a total dollar volume of just $425,000. By contrast, the ProShares Bitcoin Strategy ETF, which began in October 2021, amid a raging crypto bull market, reported trading volume of more than $1 billion on its first day.

Former chief executive Sam Bankman-Fried wants to stop the government from calling multiple witnesses, including 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 haspleaded not guilty to multiple counts of fraud in November, 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 U.S. Department of Justice want former customers and investors to testify about how they believed FTX would safeguard their assets, Cohen said in a filing made public Tuesday that the request was 'premature' and would prompt members of the jury to conclusions they should draw for themselves.