VanEck Announces Plans to launch Eth. Futures ETF

VanEck announces its Ethereum futures ETF launch, possibly in October, as TV ads hint at its imminent arrival in the crypto market.
VanEck

The debut of the exchange-traded fund (ETF) for Ethereum futures has been announced by a major investment manager, VanEck, and according to certain analysts, it may happen as soon as October 2.

On September 28, VanEck released two “Enter the Ether” advertisements teasing the arrival of their EFUT Ethereum strategy. The EFUT fund will make investments in regular, cash-settled ETH futures contracts offered on exchanges for commodities that are CFTC-registered.

The new EFUT will also be listed on the Chicago Mercantile Exchange, according to a press release that also stated Greg Krezner, the head of active trading at VanEck, will oversee it.

Eric Balchunas and James Seyffart, two Bloomberg analysts, believe that the TV advertising imply that this VanEck feature is “happening sooner than expected.”

Seyffart anticipates the launch of VanEck’s new ETF on Monday, despite a document claiming it won’t take effect for another 60 days on September 29. He stated, “Our impression is that the SEC is speeding up approvals for these things.

Five stoic actors are featured in the first bizarre commercial, which is only a few seconds long and has strange alien-sounding music. “Ethereum,” one of the actors says. presently in ETF form. One person says, “Oh and HODL or Fork Off,” and another says, “Coming soon.” Before the message saying “Enter the Ether” appears, the advertisement finishes.

The second commercial, which is a 30-second spot, appears to be more direct; it foretells a coming “shift” and asserts that Ethereum’s gravitational pull “will draw everyone in.”

According to the press release, EFUT provides exposure to significant digital assets with a futures focus together with the VanEck Bitcoin Strategy ETF (XBTF), according to the statement. Similar to XBTF, EFUT is organized as a C-Corp., which can provide long-term investors with a more favorable tax situation. “XBTF does not directly invest in BTC or other digital assets,” it was also added.

More From The Kangaroo Times

Total
0
Shares
Related Posts
Total
0
Share