SEC approves ETH ETF options, faces new DOGE filing
BlackRock, Fidelity and others had their spot ETH EFTs approved, and we may see more crypto products come to market
JHVEPhoto and Dennis Diatel/Shutterstock modified by Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
The SEC yesterday approved options on spot ether ETFs by BlackRock, Fidelity and others. 21Shares also became the latest asset manager to float a dogecoin ETF.
The upshot is that 2025 indeed appears to be a year we could see a lot more crypto products come to market. The level of demand for them will be another story.
When the SEC approved options on bitcoin ETFs in October, industry watchers highlighted how it would enhance liquidity and price discovery around that ecosystem.
Essentially, institutional investors can better manage their exposures under various market conditions via ETF options, they said. Speculators, too, can use them to leverage their bets should they be particularly bullish or bearish on the underlying asset.
The ETF Store president Nate Geraci said (like after the approval of bitcoin ETF options) we can expect to see a bunch of new ether-related launches from issuers.
“Covered call strategy eth ETFs, buffer eth ETFs, etc.,” he noted in an X post.
We’ve seen bitcoin-focused funds using options to offer downside protection. And you might recall that, just last week, Grayscale filed for options-based “covered call” and “premium income” bitcoin ETFs.
As for the 21Shares Dogecoin ETF proposed yesterday, that filing came alongside news that the Dogecoin Foundation would endorse the product.
Federico Brokate, head of 21Shares’ US business, said this planned product was designed for retail investors and institutional investors seeking “high-conviction, non-correlated exposures.”
Dogecoin’s one-minute block times and ultra-low fees make it ideal for everyday payments and microtransactions, he argued. Then there’s the “community engagement and social capital” piece.
Brokate added: “Unlike bitcoin’s narrative-driven scarcity model, dogecoin offers functional utility — an increasingly important trait as digital assets move from speculation to application.”
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- 0xResearch: Alpha directly in your inbox.
- Lightspeed: All things Solana.
- The Drop: Apps, games, memes and more.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
