In a surprising move, VanEck has announced the closure and liquidation of its Ethereum Futures ETF (EFUT). đ The fund, which trades on the Chicago Board Options Exchange (CBOE), will be delisted by September 16, 2024. This decision follows a thorough performance and market analysis, revealing declining investor interest and poor performance.
VanEckâs Ethereum Futures ETF had struggled to gain traction, with low inflows and underwhelming returns compared to its Bitcoin counterparts. The final trading day is set for September 16, and shareholders will receive a cash payout based on the net asset value (NAV) of their holdings by September 23.
This closure marks a significant moment in the crypto ETF landscape, highlighting the challenges faced by Ethereum-based funds. VanEck is now shifting its focus to other opportunities, including potential Solana ETFs, as it continues to navigate the evolving crypto market.
What are your thoughts on VanEckâs decision to shut down its Ethereum Futures ETF? Do you think this signals a broader trend for Ethereum-based investments? Share your opinions in the comments below and follow us for more updates on the latest crypto news!
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