VanEck to Launch Ethereum Strategy ETF
VanEck, a well-known name in financial investments, is gearing up to introduce the VanEck Ethereum Strategy ETF, also known as EFUT.
EFUT is an actively managed fund that invests in Ethereum (ETH) futures, without direct exposure to the currency.
Growing Interest in Ethereum
The launch demonstrates a growing interest in Ethereum’s potential and a growing desire to provide investors with the tools to gain exposure.
EFUT differs from the traditional approach to cryptocurrency ETFs since it is designed not to directly invest in Ethereum or any other cryptocurrencies. Instead, it will direct investments into standardized, cash-settled ETH futures contracts sourced exclusively from commodity exchanges approved by the Commodity Futures Trading Commission (CFTC).
Currently, the Chicago Mercantile Exchange (CME) is the only destination for these futures contracts. It is the only platform that meets the required and specific standards set by VanEck.
Listing and Leadership
EFUT will be listed on the Chicago Board Options Exchange (CBOE).
Leading the ship at VanEck for this project will be Greg Krenzer, Head of Active Trading.
In related developments, the SEC recently postponed its ruling on another VanEck project – a proposed Ethereum spot fund, dubbed the VanEck Ethereum ETF.