ETHGas has raised $12 million in a token funding round as it launches a new Ethereum blockspace futures market backed by $800 million in liquidity commitments. The platform aims to let traders, miners, and large users hedge and speculate on future Ethereum gas prices, turning blockspace into a tradable financial instrument. By offering standardized futures contracts, ETHGas seeks to improve price discovery and risk management for periods of network congestion. The launch reflects growing financialization around Ethereum infrastructure and demand for more sophisticated gas hedging tools.