Ethereum Futures ETF trading volume falls short of expectations! VanEck issuer: it's like your jpeg

Multiple Ethereum futures ETFs went live this week, but failed to attract significant investor interest, leading to a decline in trading volume. In response to this, ETF issuer VanEck made controversial remarks to the crypto community, stating, "Low trading volume is like your jpeg."

LOW VOLUME, just like your jpegs.

— VanEck (@vaneck_us) October 3, 2023

Ethereum Futures ETF Trading Volume Falls

According to reports this week, there were initially 9 Ethereum Futures ETFs launched this week, but Volatility Shares withdrew their application, leaving only 8 ETFs. However, unlike the enthusiastic trading seen with the introduction of Bitcoin Futures ETFs in 2021, the first day trading volume for Ethereum Futures ETFs was less than $2 million.

In response to this situation, Bloomberg analyst Eric Balchunas also noted that the trading volume was below his expectations, possibly due to the market not being in a bull run and Ethereum not being as popular among investors.

VanEck's Witty Response: "Just like your jpeg"

Two days after the launch of Ethereum Futures ETFs, there has been no significant growth in trading volume. According to data from Yahoo Finance, VanEck's Ethereum Strategy ETF, EFUT, had a trading volume of only about $368,000 on the second day, even lower than the $500,000 on the first day.

The low trading volume of these ETFs has caught the attention of the crypto community, and VanEck seems to have responded to the community's questions with a touch of humor.

VanEck tweeted on Twitter:

"Low trading volume, just like your jpeg."

This comment from VanEck mocking the low trading volume in the NFT market during a bear market quickly gained attention from the crypto community. While most people found VanEck's behavior cool, a few defended NFTs.

For example, crypto venture partner Adam Cochran humorously pointed out that the trading volume of Pudgy Penguins is higher than VanEck's Ethereum ETF, asking VanEck to take back their words and saying "GM!" as an apology.

These cute little bastards did more volume than you, so you take it back right now, and apologize by saying GM! pic.twitter.com/F85JvdffxN

— Adam Cochran (adamscochran.eth) (@adamscochran) October 3, 2023

However, among the Ethereum Futures ETFs launched this week, excluding mixed ETFs, VanEck's EFUT actually had the second-highest trading volume on the second day. The trading volume of other ETFs was even less than half of its volume. Perhaps there is some truth to their bold statement after all?