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VanEck Ethereum Strategy ETF set for CBOE listing


Investment management firm VanEck is set to launch its Ethereum Strategy ETF on Oct. 2, with the product now listed on its website under the ticker EFUT and set for trading on the Chicago Board Options Exchange (CBOE).

The VanEck Ethereum Strategy exchange-traded fund (ETF) will look to accrue capital by investing in Ether (ETH) futures contracts and has no direct exposure to ETH. The fund will expose cash-settled ETH futures contracts on Commodity Futures Trading Commission-regulated commodities exchanges.

VanEck also touts the benefits of the product being a “C-Corp” structure, which includes tax benefits to long investors compared with registered investment company structures.

The investment manager has been advertising the launch of the ETH spot ETF on its social media accounts over the past few days, with two “Enter the Ether” themed TV commercials promoting the upcoming launch.

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VanEck also announced that it intends to donate 10% of all profits from its upcoming Ether futures ETF to Ethereum core developers over the next 10 years.

As Cointelegraph previously reported, 15 different Ether futures ETFs from nine issuers were currently awaiting approval from the SEC at the end of Sept. 2023. Analysts cited sources within the SEC saying that the regulator wanted to approve Ether futures ETF before an upcoming U.S. government shutdown.

Meanwhile Bitwise Asset Management confirmed late last week that trading for its two Ether ETH futures ETFs would commence on Oct. 2 as well, with investors gaining access to ETH futures trading on the Chicago Mercantile Exchange.

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