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VanEck, a renowned name in financial investments, is preparing to ethereum-Futures-ETF-EFUT” data-type=”link” data-id=”https://www.businesswire.com/news/home/20230928967258/en/VanEck-Prepares-to-Launch-ethereum-Futures-ETF-EFUT” target=”_blank” rel=”noopener”>introduce the VanEck ethereum Strategy ETF, also known as EFUT.
EFUT is an actively managed fund that invests in ethereum (eth) futures contracts, with no direct exposure to the currency.
The launch shows growing interest in the potential of ethereum and the growing desire to provide investors with instruments to gain exposure.
EFUT differs from the conventional approach to crypto ETFs as it is designed not to invest directly in ethereum or any other digital currency. Instead, it will funnel investments into standardized, cash-settled eth futures contracts, sourced exclusively from commodity exchanges supported by the Commodity Futures Trading Commission (CFTC).
Currently, the Chicago Mercantile Exchange (CME) is the only destination for these futures. It is the only platform that meets the required and specific criteria established by VanEck.
EFUT will be listed on the Chicago Board Options Exchange (CBOE).
Greg Krenzer, director of active trading, will steer the ship at VanEck for this company.
In related developments, the Securities and Exchange Commission (SEC) recently postponed its verdict on another VanEck venture: the proposed ethereum spot fund, called VanEck ethereum ETF.
