The trading volume of the US's first 2x Ethereum futures ETF, ETHU, tripled to $15 million on its second day, June 5th, according to Eric Balchunas, a senior ETF analyst. This significant increase from the first day's trading volume of over $5 million is a testament to the growing interest in Ethereum-based products.

Balchunas noted that this performance was impressive for a newly launched product, surpassing the total trading volume of all Ethereum futures ETFs on their first day. However, compared to Bitcoin spot ETF products, the volume was still relatively small. The Volatility Shares 2x leveraged Ethereum ETF (ETHU) was launched on a Tuesday, and its trading volume has been steadily increasing since then.

The impressive start of ETHU is a positive sign for the Ethereum futures ETF market, which has been gaining momentum in recent months. The product's ability to attract significant trading volume in its early days is a testament to the growing demand for Ethereum-based products.

Despite the impressive start, the Ethereum futures ETF still has a long way to go to match the trading volumes of Bitcoin spot ETF products. Bitcoin spot ETFs have been around for longer and have a more established market presence, which gives them a significant advantage in terms of trading volume.

In conclusion, the triple trading volume of ETHU on its second day is a significant achievement for the Ethereum futures ETF market. The product's ability to attract significant trading volume in its early days is a testament to the growing demand for Ethereum-based products. However, the Ethereum futures ETF still has a long way to go to match the trading volumes of Bitcoin spot ETF products.