Leading financial company VanEck is officially effective and set for an imminent launch, likely to take place on Monday morning, according to insights shared by Bloomberg's Senior ETF Analyst, Eric Balchunas, via social media. This launch is particularly noteworthy as it will mark the first time a fee, set at 66 basis points, has been implemented in such a sector.
James Seffart, CFA and Crypt Assests Manager at Bloomberg also revealed in his tweet that VanEck has filed an updated prospectus for their Ethereum Futures ETF, $EFUT, hinting that it might be ready to commence trading as soon as Monday. This announcement establishes competition with ProShares, another asset manager rumored to be planning for a Monday launch, likely to be priced at 95 basis points, similar to its BITO fund.
