VanEck Ethereum Strategy ETF ready for CBOE listing.
Investment management firm VanEek's Ethereum (ETH) Strategy ETF is set to begin trading on October 2, with the product now listed on its website under the ticker EFUT and listed for trading on the Chicago Board Options Exchange (CBOE).
The VanEck Ethereum Strategy Exchange-Traded Fund (ETF) seeks to accumulate capital by investing in Ether futures contracts and has no direct exposure to ETH. The fund provides exposure to cash-settled ETH futures contracts traded on CFTC-regulated commodity exchanges.
VanEyck also cites the advantages of the product being a C-Corp structure for long-term investors, compared to registered investment company structures.
When ready, enter ETHER. The VanEck Ethereum Strategy ETF (EFUT) is coming soon. Read our press release: pic.twitter.com/vSF3HzMuvC
— VanEck (@vaneck_us) September 28, 2023
The investment manager has been promoting the launch of the ETH Spot ETF over the past few days on social media with two “Ether the Ether” themed TV commercials promoting the upcoming launch.
VanEck also announced that it intends to donate 10% of all profits from the Ethereum Futures ETF over the next 10 years to Ethereum Core developers.
As Cointelegraph previously reported, 15 different Ether futures ETFs from nine issuers were currently awaiting approval from the SEC by the end of September 2023. Analysts cited sources in the SEC as saying that the regulator wants to approve Ether's futures ETF before the upcoming US government shutdown. .
Meanwhile, Bitwise Asset Management confirmed late last week that trading for two Ether ETH futures ETFs will also begin on October 2, with investors accessing ETH futures trading on the Chicago Mercantile Exchange.
