Ether futures ETFs remain idle as the spot bitcoin fund's status remains uncertain.

Despite an increase in new listings, investor interest in ether futures exchange-traded funds has remained subdued.

All six ether futures funds launched by Bitwise Asset Management, ProShares, and VanEck on Oct. 2 have incurred losses of 5% or more since their launch.

Ric Edelman, founder of the Digital Assets Council of Financial Professionals, stated on CNBC's "ETF Edge" last Monday that the broader outlook for crypto is partly responsible for the current market conditions.

"Edelman stated that the $1 billion generated by the fund on the launch of bitcoin futures was due to its novelty in 2021. At the time, bitcoin was performing exceptionally well, and many people were unfamiliar with the concept of bitcoin futures. However, after a few years, people have become more knowledgeable about the fund and its purpose."

The six ether futures funds that debuted in October 2021 attracted only $1.92 million in total on their first day of trading, according to LSEG. In contrast, the BITO ETF, a futures product based on bitcoin, experienced approximately $1 billion in inflows in its first two trading days after its launch in late 2021.

Despite the futures-based products' underlying cryptocurrencies being near their all-time highs in November 2021, Bitcoin is currently hovering near $27,000, which is more than $40,000 below its peak, while Ethereum is down more than 60% from its high, currently valued near $1,500.

Some investors may be staying away from futures ETFs due to their nature, according to Edelman.

"Why would someone buy futures in the crypto market if they don't typically purchase futures in the stock market?"

Regulators are considering whether to approve cryptocurrency spot ETFs that track the current market price of the underlying asset, instead of futures contracts.

Grayscale's conversion of its Bitcoin holdings into an ETF was allowed by a federal appeals court in August, after the SEC had previously blocked spot Bitcoin ETFs. The SEC has until Friday to appeal the decision.

According to Edelman, consumer safety is at stake.

Despite the lack of a spot bitcoin ETF, individuals are still purchasing cryptocurrency. However, they are being forced to invest in expensive, less liquid, and riskier products.