Major TradFi Player VanEck Readies Ethereum Futures ETF

VanEck Ethereum Strategy ETF (EFUT) will invest in ETH futures contracts traded on commodity exchanges registered with the CFTC.

AccessTimeIconSep 28, 2023 at 2:41 p.m. UTC
Updated Oct 2, 2023 at 3:06 p.m. UTC
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VanEck, the $77.8 billion asset under management firm, is preparing to roll out its Ethereum futures exchange-traded fund (ETF) as the race for ether (ETH) futures fund heats up.

The fund, called VanEck Ethereum Strategy ETF (EFUT), will invest in standardized, cash-settled ETH futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission (CFTC), the firm said in a statement on Thursday.

The ETF will be listed on CBOE and will be joining the asset manager's other futures ETF product, the VanEck Bitcoin Strategy ETF (XBTF), the statement said.

The move comes as many TradFi players have filed applications with the U.S. Securities and Exchange (SEC) for ether futures-based ETFs, following the bitcoin spot ETF hype.

Edited by Oliver Knight.


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