VanEck Introduces the VanEck Ethereum Strategy ETF (EFUT)
VanEck, a well-known name in financial Investments, gearing up to introduce the VanEck Ethereum Strategy ETF, also Known as EFUT.
EFUT is an actively managed investment fund in Ethereum (ETH) futures contracts, without direct exposure in the currency.
Growing Interest in Ethereum
The launch shows growing interest in the ability of Ethereum and the growing desire to provide investors with tools to get exposure.
The EFUT system differs from the traditional approach to cryptocurrency ETFs because it is designed in a way that does not directly invest in Ethereum or other digital currencies. Instead, it will direct investments to consolidated, cash-settled Ethereum futures contracts that are sourced exclusively from commodity exchanges approved by the Commodity Futures Trading Commission (CFTC).
Currently, the Chicago Mercantile Exchange (CME) is the only destination for these futures contracts. It is the only platform that matches the required and specified standards set by Van Eyck.
EFUT will be listed on the Chicago Board Options Exchange (CBOE).
Steering the ship at VanEck for this venture would be Greg Krenzer, head of active trading.
In related developments, the Securities and Exchange Commission (SEC) recently announced postponed their rule on another Van Eyck venture – proposed Ethereum spot fund, called VanEck Ethereum ETF.