Global Investment Manager VanEck To Launch Ethereum (ETH) Futures Exchange-Traded Fund – Crypto News – Crypto News
Connect with us
Global Investment Manager VanEck To Launch Ethereum (ETH) Futures Exchange-Traded Fund Global Investment Manager VanEck To Launch Ethereum (ETH) Futures Exchange-Traded Fund

others

Global Investment Manager VanEck To Launch Ethereum (ETH) Futures Exchange-Traded Fund – Crypto News

Published

2 years ago

on

Global investment firm VanEck is preparing to roll out an Ethereum (ETH) futures exchange-traded fund (ETF) amid an optimistic outlook for the first-ever US futures ETF based on the second-largest crypto asset by market cap.

In a statement published on Thursday, the firm says the VanEck Ethereum Strategy ETF (EFUT) will not directly invest in Ethereum or other crypto assets, but in standardized, cash-settled ETH futures contracts traded on registered commodity exchanges.

“VanEck Ethereum Strategy ETF (EFUT) [is] an actively managed ETF designed to seek capital appreciation by investing in Ether (ETH) futures contracts.”

The fund, which will be listed on the Chicago Board Options Exchange (CBOE), currently intends to invest only in ETH futures traded on the Chicago Mercantile Exchange. VanEck’s statement did not specify a timeline for launch.

The announcement comes amid reports that the U.S. Securities and Exchange Commission (SEC) is ready to give its approval to the first ETH futures exchange-traded fund two years after giving the nod to a futures ETF based on Bitcoin (BTC).

Bloomberg ETF analysts James Seyffart and Eric Balchunas estimated in August that there was a 75% chance that an ETH futures ETF would get approved this year amid a flood of applications to the SEC.

“The SEC appears to be changing its posture toward crypto, based on reports of its back-channel messaging to ETF issuers. Also, we believe the SEC would have a hard time in court defending the denial of Ethereum futures ETFs after approving standard and leveraged Bitcoin futures ETFs.”

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending