VanEck will launch Ethereum Strategy ETF


Asset management company VanEck announced the launch of the Ethereum Strategy ETF, according to a press release.

The actively managed ETF will be based on regulated ether-based futures settlement CFTC. Currently, such instruments are presented only on the Chicago Mercantile Exchange (CME).

The fund will be listed on CBOE under the ticker EFUT, but the exact date is still unknown.

The new instrument is similar to the company’s other product, the Bitcoin Strategy ETF (XBTF), launched in November 2021.

In June, VanEck analysts predicted that Ethereum would rise to $11,800 by 2030.

Earlier, the US Securities and Exchange Commission (SEC) postponed decisions on requests from 21Shares and VanEck to launch an Ethereum-based spot ETF.

Bloomberg senior stock analyst Eric Balchunas noted that Ether-based futures instruments have a “90% chance” of appearing in early October.

K33 Research analysts expressed confidence that the emergence of ETFs based on Ethereum can turn the ETH/BTC rate up.

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