11 months ago
Following the U.S. SEC’s support of spot Ethereum exchange-traded funds, VanEck has launched its Ethereum Strategy ETF.
Investment absorption steadfast VanEck is acceptable to statesman trading of its Ethereum (ETH) Strategy ETF connected Oct. 2, with the merchandise present listed connected its website nether the ticker EFUT and acceptable for trading connected the Chicago Board Options Exchange (CBOE).
The VanEck Ethereum Strategy exchange-traded money (ETF) volition look to accrue superior by investing successful ether futures contracts, and does not person immoderate nonstop vulnerability to ETH. The money volition connection vulnerability to cash-settled ETH futures contracts traded connected CFTC-regulated commodities exchanges.
VanEck besides touts the benefits of the merchandise being a C-Corp structure, which includes taxation benefits to agelong investors successful examination to registered concern institution structures.
When you’re ready, ENTER THE ETHER. The VanEck Ethereum Strategy ETF ($EFUT) is coming soon. Read our property release: https://t.co/4QPOVd5nB2 pic.twitter.com/vSF3HzMuvC
— VanEck (@vaneck_us) September 28, 2023The concern manager has been advertizing the motorboat of the ETH spot ETF connected its societal media handles implicit the past fewer days, with 2 “Enter the Ether”-themed TV commercials promoting the upcoming launch.
VanEck besides announced that it intends to donate 10% of each profits from its upcoming Ether futures ETF to Ethereum halfway developers implicit the adjacent 10 years.
As Cointelegraph antecedently reported, 15 antithetic Ether futures ETFs from 9 issuers were presently awaiting support from the SEC astatine the extremity of Sept. 2023. Analysts cited sources wrong the SEC saying that the regulator wanted to o.k. Ether futures ETF earlier an upcoming U.S. authorities shutdown.
Meanwhile Bitwise Asset Management confirmed precocious past week that trading for its 2 Ether ETH futures ETFs would commence connected Oct. 2 arsenic well, with investors gaining entree to ETH futures trading connected the Chicago Mercantile Exchange.
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