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VanEck Ethereum Strategy ETF set for CBOE listing

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Funding administration agency VanEck is ready to start buying and selling of its Ethereum (ETH) Technique ETF on Oct. 2, with the product now listed on its website beneath the ticker EFUT and set for buying and selling on the Chicago Board Choices Change (CBOE).

The VanEck Ethereum Technique exchange-traded fund (ETF) will look to accrue capital by investing in ether futures contracts, and doesn’t have any direct publicity to ETH. The fund will provide publicity to cash-settled ETH futures contracts traded on CFTC-regulated commodities exchanges.

VanEck additionally touts the advantages of the product being a C-Corp construction, which incorporates tax advantages to lengthy buyers compared to registered funding firm buildings.

The funding supervisor has been promoting the launch of the ETH spot ETF on its social media handles over the previous few days, with two “Enter the Ether”-themed TV commercials selling the upcoming launch.

VanEck additionally announced that it intends to donate 10% of all earnings from its upcoming Ether futures ETF to Ethereum core builders over the subsequent 10 years.

As Cointelegraph beforehand reported, 15 completely different Ether futures ETFs from 9 issuers have been presently awaiting approval from the SEC on the finish of Sept. 2023. Analysts cited sources throughout the SEC saying that the regulator wished to approve Ether futures ETF earlier than an upcoming U.S. authorities shutdown.

In the meantime Bitwise Asset Administration confirmed late final week that buying and selling for its two Ether ETH futures ETFs would start on Oct. 2 as properly, with buyers getting access to ETH futures buying and selling on the Chicago Mercantile Change.