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Proposed 3x Ethereum ETF may hit CME futures accountability level

The valuation suggests a 3x structure with $362.1 million in assets would correspond to 8,000 CME Ether futures contracts, matching the exchange’s current accountability threshold.

Reported · Written up by our desk · Ethereum

CryptoSlate reports that a proposed 3x Ethereum ETF could reach CME Group’s updated Ether futures accountability level. Based on data disclosed by ETHU as of Oct. 6, $362.1 million of assets for a 3x product would target about $1.09 billion of exposure, which would translate to 8,000 standard CME Ether futures contracts.

CryptoSlate also notes that the SEC approved Cboe BZX’s rule change to list Volatility Shares’ proposed ETHK on Oct. 2, with the first trading date pending. The sponsor’s live fund, ETHU, held 19,204 October CME Ether futures contracts worth $2.61 billion as of Oct. 6, compared with $1.31 billion of net assets as of Oct. 5.

The report adds that CME previously reduced its single month and all month Ethereum futures accountability level to an aggregated 8,000 standard contracts effective March 2. CryptoSlate says accountability is a threshold, and participants can hold positions above it, with CME Market Regulation able to request information under Rule 5.

Latest closeEthereum $2,720.72 ▲0.4%

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