VanEck Announces Closure of Ethereum Futures ETF: Key Takeaways from Crypto Markets News
VanEck to Liquidate Ethereum Futures ETF
VanEck has announced plans to close its Ethereum Strategy ETF, which is traded on the Chicago Board Options Exchange (Cboe) with the ticker symbol EFUT. This significant move comes after a comprehensive evaluation by the company's Board of Trustees. They assessed various factors such as performance, liquidity, assets under management (AUM), and investor interest.
Reasons Behind the Decision
- Underperformance of Ethereum ETFs compared to Bitcoin ETFs.
- Low liquidity and interest from investors.
- Need for strategic shifts in the current market climate.
Actions for EFUT Shareholders
VanEck has urged EFUT shareholders to sell their holdings on the Cboe before the market closes on September 16. After this date, EFUT will no longer be listed, and the complete liquidation of the fund will occur on September 23, with proceeds being distributed to shareholders.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.