Two more Ether (ETH)-based commutation-traded funds have been filed this week, bringing the total to 23 crypto ETF filings then far in 2021.

VanEck and ProShares are the latest firms to reveal plans for institutional products focused on Ethereum. According to filings with the U.Due south. Securities and Exchange Commission on Wednesday, VanEck is seeking to launch an "Ethereum Strategy ETF", while ProShares is calling its proposed production the "Ether Strategy ETF".

Both ETFs aim to provide exposure to Ether past investing in ETH futures contracts in add-on to pooled investment vehicles and other exchange-traded products that take ETH exposure. The funds will not exist buying Ether direct, according to the documents.

Both firms accept already filed for Bitcoin ETFs; however, the SEC is still dragging its feet and has withal to corroborate whatever. Earlier this month, Kryptoin filed for an "Ethereum ETF Trust" mark the 21st awarding in 2021, and the latest two bring that total up to 23.

Speaking to Blockworks, president of the ETF Store, Nate Geraci, said, "Given the most recent messaging from the SEC … information technology seems highly likely a Bitcoin futures ETF will exist approved before an Ether futures product," earlier adding:

"It's non unreasonable to think a Bitcoin futures ETF could exist approved before the end of the year."

ProShares is a segmentation of ProFunds Group, which manages various investment funds, with combined assets under management of around $fifty billion, while VanEck has a total AUM of around $65 billion.

Related: Bitcoin ETF may come to US, but not all crypto investors recollect it's needed

On May 7, VanEck filed for its Ether ETF, and a couple of weeks later, on May 28, Wisdom Tree filed an application to the SEC for a like fund. In June, the ProFunds Group filed the "ProShares Southward&P Kensho Global Crypto & Blockchain ETF" with the SEC.

On Aug. x, Cointelegraph reported that SEC Chair Gary Gensler hinted that he would exist more open to accepting ETFs based on crypto futures rather than through direct exposure. VanEck filed another prospectus for a Bitcoin Strategy exchange-traded fund on Aug. 9.