VanEck, a prominent investment manager, has revealed plans to launch an Ethereum Futures exchange-traded fund (ETF). This news comes shortly after the US Securities and Exchange Commission (SEC) announced its intention to fast-track the approval of some Ether futures ETF applications ahead of a potential US government shutdown. The ETF, named the VanEck Ethereum Strategy ETF (EFUT), will not invest directly in Ether (ETH) or any other cryptocurrency, but rather in Ether futures contracts. These contracts are legally binding agreements to buy or sell a particular asset at a predetermined price on a specified future date. The ETF will only invest in regulated, cash-settled ETH futures contracts listed on commodity exchanges certified by the Commodity Futures Trading Commission (CFTC). The ETF will be traded on the Chicago Mercantile Exchange (CME). The 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. This is not VanEck’s first foray into the futures ETF market, as the investment manager launched the VanEck Bitcoin Strategy ETF (XBTF) earlier this year. Bloomberg analyst Eric Balchunas reported that the SEC had requested 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. Valkyrie Investments and Volatility Shares are two of the front runners for the SEC’s approval. At the time of writing, ETH is trading at $1,661.4 on the hourly chart.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 10 |
| People | Greg Krenzer, Eric Balchunas, Valkyrie Investments, Volatility Shares |
| Companies | Chicago Mercantile Exchange (CME), VanEck, Commodity Futures Trading Commission (CFTC), Bloomberg, Volatility Shares., Valkyrie Investments, US Securities and Exchange Commission (SEC) |
| Currencies | GoCryptoMe, Bitcoin, Creditcoin, US Dollar, Ethereum |
| Securities | None |
