ETH Futures ETFs See Low Volumes, SOL Breaking Away From the Pack

Market Update It's a new day, but the script is pretty much a repeat of the last several weeks, characterized by rising interest rates, particularly at the long end of the curve. The U.S. 10-Year Treasury yield is inching toward 4.8%, while the 30-Year yield is nearing 5%, spurred by higher-than-expected JOLTS figures released this morning. Alongside this, the DXY is gaining, gold prices are declining, and equities are in the red across all sectors. In the crypto space, the downturn is less severe but still noticeable. $BTC has dropped to around $27.4k, and $ETH is trading at approximately $1650. However, some assets like $SOL and $MATIC are bucking the trend, up by 4% and 5%, respectively. This comes on the heels of yesterday's launch of the first ETH futures ETFs, which saw less retail demand than anticipated, a topic discussed in greater detail below.A total of 9 ETH futures-based exchange-traded funds (ETFs) debuted yesterday. Five of these are exclusively focused on ether futures, while the remaining four hold a mix of bitcoin and ether futures. The most traded among these was Valkyrie's Bitcoin Strategy ETF, with a trading volume of $882,000. In total, the combined trading volume for all nine ETFs was less than $2 million—starkly different from the ProShares Bitcoin Stra