VanEck Announces Launch of Ethereum Futures ETF (EFUT)

blockchain.news:

VanEck, a renowned player in the financial markets, has unveiled its plans to launch the VanEck Ethereum Strategy ETF (EFUT). This actively managed exchange-traded fund is strategically designed to target capital appreciation through investments in Ethereum (ETH) futures contracts. Notably, EFUT will not directly invest in ETH or any other digital assets.

The fund's investment strategy revolves around standardized, cash-settled ETH futures contracts. These contracts are actively traded on commodity exchanges that are registered with the Commodity Futures Trading Commission (CFTC). It's worth mentioning that, at present, EFUT primarily intends to engage with ETH futures traded on the Chicago Mercantile Exchange.

EFUT will be listed for trading on the CBOE (Chicago Board Options Exchange) and will be under the active management of Greg Krenzer, who serves as the Head of Active Trading at VanEck. With over two decades of experience in trading across various asset categories, including futures, Mr. Krenzer brings a wealth of expertise to the fund's management.

This strategic move to introduce EFUT complements VanEck's existing offering, the VanEck Bitcoin Strategy ETF (XBTF), which also focuses on futures contracts related to digital assets. Both EFUT and XBTF follow a C-Corp. structure, offering a potentially more tax-efficient experience for long-term investors. Notably, XBTF does not directly invest in Bitcoin (BTC) or other digital assets.

VanEck is renowned for its forward-thinking approach in the financial markets, consistently identifying trends that create impactful investment opportunities. With a history of pioneering access to international markets, the firm has played a pivotal role in shaping the investment