The VanEck Ethereum Strategy ETF is set to list on CBOE ScrgruppEn

Investment management firm VanEck is set to begin trading its strategic ETF on October 2, with the product now listed on its menu. website Under the ticker EFUT and set up for trading on the Chicago Options Exchange (CBOE).

The VanEck Ethereum Strategy exchange-traded fund (ETF) will seek to accumulate capital by investing in Ethereum futures, and does not have any direct exposure to ETH. The Fund will offer exposure to cash-settled ETH futures contracts traded on CFTC-regulated commodity exchanges.

Van Eyck too pursues The product benefits being a C-Corp structure, which includes tax advantages for long-term investors compared to registered investment company structures.

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

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

As previously reported by Cointelegraph, 15 different Ethereum futures funds from nine issuers are currently awaiting SEC approval at the end of September 2023. Analysts cited sources within the SEC saying the regulator wanted to approve Ethereum futures ETFs before the upcoming US government shutdown. .

Meanwhile, Bitwise Asset Management confirmed late last week that trading of two Ether ETH futures ETFs will begin on October 2 as well, with investors getting access to ETH futures trading on the Chicago Mercantile Exchange.

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