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The news that investors and the market have been waiting for a long time has arrived and VanEck has launched the Ethereum futures ETF.
According to VanEck's website, the launch date of the Ethereum Futures ETF is today, October 2, 2023.
Today, VanEck launched the Ethereum Strategy ETF (EFUT), a unique new actively managed ETF designed to generate capital gains by investing in Ether (ETH) futures contracts, Businesswire reports.
VanEck Digital Asset Product Director Kyle DaCruz stated the following in his statement:
“Ethereum is the layer 1 building block of the decentralized application ecosystem, driving innovation in digital currencies, global payments, smart contracts and much more, with Ethereum as the platform’s method of exchange.
“At this point, we are delighted to launch digital assets through a spot ETF product in the US as a way to access the strong futures market that has developed around ETH.”
“Experience matters when choosing a fund manager, and VanEck has a long history of investing in global markets and across different market cycles. Our legacy of offering investors access to important new segments of the capital markets continues with the launch of EFUT,” said Ed Lopez, Head of Product Management at VanEck. “We are delighted to introduce the new ETF EFUT to the market and provide a fundamental building block for a diversified digital asset portfolio for individuals and advisors.” said.
It was seen that the Ethereum (ETH) price did not react after the news was heard. ETH continues to trade at $1,732 at the time of writing.
*This is not investment advice.