Investment management firm VanEck will launch its ethereum Strategy ETF on October 2, and the product is now listed on its ethereum-strategy/efut-fund-profile-exchange-traded-access-to-the-future.pdf” target=”_blank” rel=”noopener nofollow”>website under the symbol EFUT and ready to trade on the Chicago Board Options Exchange (CBOE).
The VanEck ethereum Strategy exchange-traded fund (ETF) will seek to accumulate capital by investing in Ether (eth) futures contracts and has no direct exposure to eth. The fund will display cash-settled eth futures contracts on commodity exchanges regulated by the Commodity Futures Trading Commission.
VanEck too ethereum-futures-etf-efut.pdf” target=”_blank” rel=”noopener nofollow”>resellers the benefits of the product being a “C-Corp” structure, including tax benefits for long-term investors compared to registered investment company structures.
When you are ready, ENTER THE ETHER. The VanEck ethereum Strategy ETF ($EFUT) is coming soon. Read our press release: https://t.co/4QPOVd5nB2 pic.twitter.com/vSF3HzMuvC
—VanEck (@vaneck_us) September 28, 2023
The investment manager has been announcing the launch of the eth spot ETF on its social media accounts for the past few days, with two “Enter the Ether”-themed TV commercials promoting the upcoming launch.
VanEck also announced that he intends to donate 10% of all profits from his upcoming Ether futures ETF to core ethereum developers over the next 10 years.
As Cointelegraph reported, 15 different Ether futures ETFs from nine issuers were awaiting approval from the United States Securities and Exchange Commission by the end of September 2023. Analysts cited sources within the SEC who said the regulator wanted Approve Ether Futures ETFs Amid Possible US Government Shutdown.
Meanwhile, Bitwise Asset Management confirmedethereum-etf-launch-on-october-2″ data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/bitwise-announces-ethereum-etf-launch-on-october-2/amp”/> that trading of its two Ether eth futures ETFs would also begin on October 2, with investors gaining access to eth futures trading on the Chicago Mercantile Exchange.
