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

article-image

JHVEPhoto and Dennis Diatel/Shutterstock modified by Blockworks

share

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. 

Loading Tweet..

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:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Nillion_DeSci_Report_Template.png

Research

Nillion’s Monad Integration is poised to catalyze the next phase of DeSci’s evolution by eliminating key privacy bottlenecks. This synergy allows researchers, institutions, and DAOs to exchange sensitive data and insights securely while managing governance and payments onchain.

article-image

Celebrating the wisdom of a diamond-handed Bitcoin Legend

article-image

With the success of RWAs and stablecoins, DePINs could onboard the next wave of crypto users

article-image

Is crypto straying too far from things of value?

article-image

Firedancer and Solana ETFs look less significant than before

article-image

The newly passed House bill amplifies that strategic pivot for the Trump administration, from attempting austerity to running the economy hot

article-image

Unable to secure further funding, the game cycled through three different blockchains and at least five different game engines since 2018