VanEck Poised to Launch Groundbreaking Ethereum Futures ETF in Traditional Finance Sector

VanEck, a widely recognized asset management company overseeing a substantial portfolio of $77.8 billion, is on the brink of unveiling its Ethereum futures exchange-traded fund (ETF) amidst escalating competition in the realm of ether (ETH) futures funds.

The forthcoming fund, named the VanEck Ethereum Strategy ETF (EFUT), will predominantly channel its investments into standardized ETH futures contracts settled in cash. These contracts are traded on commodity exchanges that hold proper registration with the Commodity Futures Trading Commission (CFTC), as specified in the company's official statement released on Thursday.

This ETF is scheduled for listing on the Chicago Board Options Exchange (CBOE) and will stand as a supplementary offering alongside VanEck's existing suite of futures ETF products, including the VanEck Bitcoin Strategy ETF (XBTF), as indicated in the announcement.

This development mirrors a broader trend where a multitude of players within the traditional financial sector have submitted applications to the U.S. Securities and Exchange Commission (SEC) for ETFs rooted in ether futures. This surge in interest follows the notable upswing in Bitcoin spot ETFs.

Among the contenders seeking approval for ETH futures ETFs are the Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, ProShares Short Ether Strategy ETF, ProShares Ether Strategy ETF, and Grayscale Ethereum Futures ETF.

Read more: Unlocking Ethereum's Potential: Grayscale's $5 Billion Fund to Transform into Spot Ether ETF