VanEck Announces Plans To Launch Ethereum Futures ETF (EFUT)

2023-9-29 03:00

Prominent investment manager VanEck has revealed plans to launch an Ethereum Futures exchange-traded fund (ETF). Interestingly, this development comes a few hours following news that the US Securities and Exchange Commission (SEC) was looking to fast-track the approval of some Ether futures ETF applications ahead of a US government shutdown. 

VanEcK Set To Launch Ethereum Futures ETF On CME 

According to a press release on Thursday, VanEck announced the impending launch of an Ethereum futures ETF named the VanEck Ethereum Strategy ETF (EFUT).

As the fund’s nature implies, EFUT does not invest directly in Ether (ETH) or any other cryptocurrency; rather, it gains value from investing in Ether futures contracts. 

To explain, futures contracts are legally binding agreements to buy or sell a particular asset at a predetermined price on a specified future date. Thus, a futures ETF accrues value by tracking the performance index of these contracts.

When you’re ready, ENTER THE ETHER. The VanEck Ethereum Strategy ETF ($EFUT) is coming soon. Read our press release: https://t.co/4QPOVd5nB2 pic.twitter.com/vSF3HzMuvC

— VanEck (@vaneck_us) September 28, 2023

Based on more information from VanEck, EFUT will only invest in regulated, cash-settled ETH futures contracts listed on commodity exchanges certified by the Commodity Futures Trading Commission (CFTC). 

However, EFUT will only invest in ETH futures contracts traded on the Chicago Mercantile Exchange (CME), which will also serve as the Fund’s debut platform. 

Upon launch, the VanEck Ethereum Strategy ETF will be managed by Greg Krenzer, a long-time staff member with over 20 years of experience in asset trading and the current Head of Active trading at the investment firm. 

It is worth noting that EFUT will not represent VanEck’s first stint in the futures ETF market. In 2021, the investment manager launched the VanEck Bitcoin Strategy ETF (XBTF), an investment fund that offered exposure to Bitcoin futures contracts. 

Analyst: Ethereum ETF Process Speeds Up

As earlier stated, VanEck’s announcement of the upcoming launch of its Ethereum Strategy ETF was preceded by reports of the SEC’s intentions to accelerate the approval of Ethereum futures ETF applications. Bloomberg analyst Eric Balchunas shared this development via a post on X on September 27. 

Balchunas quoted anonymous sources stating the SEC had requested that asset managers looking to offer Ether futures ETF update their filings by Friday, as the commission looks to clear some of these funds for launch as early as next Tuesday because of a possible government shutdown. 

For context, the US government could experience a partial shutdown if its Congress refuses to approve the four spending bills that are currently under deliberation. 

Anything but a positive consensus by the US legislature on these bills by October 1, at exactly 12:01 a.m. ET will negatively affect the finances of various government services, among other things, in the coming fiscal year. 

Nevertheless, following VanEck’s latest announcement, it appears that Balchunas’s scoop on this Ether ETF saga could be right. If so, investors could expect more positive updates from other asset managers in the US Ether futures ETF, most notably Valkyrie Investments and Volatility Shares, both of which the Bloomberg analyst tipped as front runners for the SEC’s approval.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Filecoin [Futures] (FIL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $5.1636
Капитализация $0 Rank 99999
Доступно / Всего 0 FIL

futures etf vaneck ethereum launch plans approval

futures etf → Результатов: 126


XBTF Dips Amidst Market Turbulence, 3rd Bitcoin Futures ETF Launches with Lowest Fee But Fails to Gain Traction

VanEck’s Bitcoin Futures ETF (XBTF) only amassed $9.6 million in AUM compared to ProShares’ (BITO) over $1 billion and Valkyrie’s (BTF) $60 million. The post XBTF Dips Amidst Market Turbulence, 3rd Bitcoin Futures ETF Launches with Lowest Fee But Fails to Gain Traction first appeared on BitcoinExchangeGuide.

2021-11-18 17:41


Cathie Wood’s Ark Throws its Hat in the Bitcoin Futures ETF Ring, Valkyrie Updates Prospectus for Potential Approval This Month

Cathie Wood had joined the race of Bitcoin Futures exchange-traded fund (ETF) with its ARK 21Shares Bitcoin Futures Strategy ETF (ARKA). The ETF plans to invest Bitcoin futures contracts on commodity exchanges, according to a filing with the Securities and Exchange Commission (SEC).

2021-10-14 15:31


$60B Asset Fund, WisdomTree Trust, Files For A New ETF; Will Includes 5% In Bitcoin Futures

Institutional investors are taking up positions in the Bitcoin market attracting some of the biggest Wall Street hedge funds and financial institutions. WisdomTree Investments, a $60 billion dollar hedge fund, announced the launch of an electronic traded fund (ETF) index comprising of a number of digital assets including BTC.

2020-6-17 15:58


Фото:

Binance CEO: Retail Investors, Not Institutions, Are Leading the Bull Market

Contrary to popular belief, retail investors are still playing a major role in directing Bitcoin’s price action, says Binance CEO in a recent interview with Bloomberg. Who’s Really in Charge? As Bitcoin briefly touched $20,000 in early 2018, market analysts forecasted that the impending arrival of Bitcoin futures products, a Bitcoin exchange-traded fund (ETF), and the infusion of institutional funding would drive Bitcoin towards $30,000 and possibly $50,000.

2019-7-14 00:16


Bitwise Submits Bitcoin Spot Market Report: The “Most Orderly & Efficient in the World” to SEC

Discrediting the popular misconception about Bitcoin spot market Bitcoin real spot market & substantially larger regulated bitcoin futures market Most important denomination in considering Bitcoin ETF: Regulated BTC futures volume accounts for 48% of the size of the spot market New research by Bitwise Asset Management titled “Economic and Non-Economic Trading In Bitcoin” is exploring […]

2019-5-25 19:23


US Regulators SEC and CFTC May Join Forces for Cryptocurrency Rules, Adding Bitcoin Futures are Easier to Approve

The regulatory situation for the United States and cryptocurrency has been complicated. Multiple entities are in charge of regulating the environment, and the lack of approval so far from the Securities and Exchange Commission (SEC) for a Bitcoin exchange traded fund (ETF) has been arduous for applicants.

2019-2-18 21:43


Фото:

Reality Shares Bitcoin Futures ETF ‘Moves Ball Forward’ For Crypto

Cryptocurrency advocates have reacted warmly to an effort by asset manager Reality Shares to gain approval for a ‘partial’ Bitcoin ETF from US regulators. Less Exposure, Less Rejection? Announced in a prospectus filed with the US Securities and Exchange Commission (SEC) February 11, Blockforce Global Currency Strategy ETF aims to invest 15 percent of funds into CME Group and Cboe’s Bitcoin futures.

2019-2-12 15:00


New ETF Proposal Allocates 25% of Its Portfolio to Bitcoin Futures

A newly proposed exchange-traded fund plans to allocate 25% of its entire portfolio to bitcoin futures. Bitcoin ETF on NYSE Arca Realty Shares ETF Trust, a subsidiary of US-based asset manager Blockforce Capital, filed a registration form with the Securities and Exchange Commission on Monday to list its “Reality Shares Blockforce Global Currency Strategy ETF”.

2019-2-11 22:19


Фото:

Can Bitcoin ETNs Unlock Mass Adoption?

With most bitcoin ETF proposals out of the picture and the SEC on forced hiatus, the institutional adoption of BTC and other cryptocurrencies has been put on hold. But why is that the case? Back in January 2017, the launch of bitcoin futures by Cboe (Chicago Board of Exchanges) and CME (Chicago Mercantile Exchange), seemed […] The post Can Bitcoin ETNs Unlock Mass Adoption? appeared first on Crypto Briefing.

2019-1-26 18:27


Crypto Week In Review: Bitcoin ETF Talk Mounts, Nasdaq To Launch “Crypto 2.0” Futures

The crypto market at large sustained its turbulent price action this week, with Bitcoin (BTC) jolting up and down between key levels of resistance and support. However, in spite of the dreary price action, this industry’s participants kept their pedal to the metal, announcing a series of developments that piqued the interest of investors worldwide.

2018-12-3 21:28