The crypto world was buzzing with anticipation as nine Ethereum futures exchange-traded funds (ETFs) entered the market on October 2nd. Launched by heavyweight investment firms including VanEck, ProShares, Bitwise, and more, these ETFs promised to bring a new wave of investment opportunities to the crypto space. However, the debut didn’t exactly set the market on fire, earning a rather lackluster reception.

On the first day of trading, these ETFs collectively managed a trading volume of less than $2 million. To put that into perspective, the first Bitcoin futures ETF saw a whopping $1 billion in trading volume on its inaugural day, with $200 million changing hands in the first 15 minutes. So, what happened to the much-anticipated Ethereum ETFs?

In the battle for assets, competition is fierce, and marketing plays a pivotal role in success. VanEck’s Ethereum Strategy ETF (EFUT) garnered the most attention, with nearly 25,000 shares traded at an average price of around $17 per share, resulting in a total volume of just $425,000.

In contrast, ProShares, the firm behind the first Bitcoin futures ETF (BITO), released multiple Ethereum-related ETFs, providing investors with various options for exposure to Ether futures. BITO, which launched in a bullish crypto market last year, now manages about $860 million in assets.

Bitwise Asset Management also entered the arena with its Ethereum Strategy ETF (AETH) and Bitcoin and Ether Equal Weight Strategy ETF (BTOP). Valkyrie, an existing Bitcoin futures ETF player, added Ether futures to its offerings, but not without some twists and turns.

While these new ETFs have generated some interest, they’re still far from achieving the explosive debut of their Bitcoin counterparts. Industry experts suggest that marketing and fees will be key factors in their success. With VanEck’s product sporting an expense ratio of 66 basis points and ProShares’ ETFs costing 95 basis points, investors have choices to make.

In the end, the battle for Ethereum futures ETF supremacy is just beginning. The muted launch doesn’t necessarily mean these funds won’t gain traction in the future. After all, Rome wasn’t built in a day, and neither will be the Ether futures ETF empire. Stay tuned as this exciting saga unfolds in the world of crypto investments.