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Major TradFi Player VanEck Readies Ethereum Futures ETF
VanEck Ethereum Strategy ETF (EFUT) will invest in ETH futures contracts traded on commodity exchanges registered with the CFTC.
VanEck, the $77.8 billion asset under management firm, is preparing to roll out its Ethereum futures exchange-traded fund (ETF) as the race for ether (ETH) futures fund heats up.
The fund, called VanEck Ethereum Strategy ETF (EFUT), will invest in standardized, cash-settled ETH futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission (CFTC), the firm said in a statement on Thursday.
STORY CONTINUES BELOW
The ETF will be listed on CBOE and will be joining the asset manager's other futures ETF product, the VanEck Bitcoin Strategy ETF (XBTF), the statement said.
The move comes as many TradFi players have filed applications with the U.S. Securities and Exchange (SEC) for ether futures-based ETFs, following the bitcoin spot ETF hype.
Some of the peers that filed for ETH futures ETF include Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, ProShares Ether Strategy ETF and Grayscale Ethereum Futures ETF.
Read more: Ether Futures ETFs Are Poised for U.S. Approval, Bloomberg Reports
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's managing editor for Breaking News. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ALGO, ADA, SOL, OP and some other altcoins which are below CoinDesk's disclosure threshold of $1,000.
