Catenaa, Wednesday, December 24, 2025-ETHGas has raised $12 million in a seed funding round as it launched what it calls the first futures market for Ethereum blockspace, backed by about $800 million in liquidity commitments from validators, block builders and other network participants.
The token-based funding round was led by Polychain Capital, with backing from Stake Capital, BlueYard Capital, Lafayette Macro Advisors, SIG DT and Amber Group.
The raise was structured as a simple agreement for future tokens, following a smaller pre-seed round completed in 2024.
ETHGas did not disclose its valuation and said the round did not include board or advisory seats.
Alongside the funding, ETHGas said market participants committed blockspace liquidity rather than cash.
Validators and builders will supply future blockspace into the marketplace in exchange for more predictable yields, while retaining custody of the underlying assets.
ETHGas allows Ethereum blockspace to be bought and sold ahead of block production, rather than only through the spot gas market.
Validators can sell commitments up to 64 blocks in advance, enabling users to hedge execution costs and reduce exposure to gas price volatility.
The marketplace supports multiple contract types, including full block sales, transaction inclusion guarantees, execution guarantees tied to price or state conditions, and multi-block purchases.
ETHGas charges a 5% fee on trades and plans to introduce additional fees for applications requiring real-time settlement.
