Vaneck closes his Ethereum Futures ETF in September, one year after the introduction

• Vaneck closes his Ethereum Futures ETF (EFUT) until September 16, 2024.
• The EFUT recorded a low asset accumulation compared to the Spot ethereum ETF from Vaneck.
• In general, Ethereum is faced with challenges through the competition as well as falling network income and fees.

Vaneck will close his Ethereum Strategy ETF (EFUT) by September 16, 2024, the liquidation is expected until September 23.

The EFUT set up in October 2023 had to fight with low asset formation and performance compared to Vaneck's more successful Spot Ethereum ETF (ETHV).

strategic realignment

Vaneck's decision to close EFUT ETF is part of a strategic review of his ETF offer. The EFUT set up in October 2023 was to enable an engagement in Ethereum futures, but only collected $ 21 million in assets, which is in a strong contrast to the $ 63 million net inflows of the Spot Ethereum ETF (ETHV).

The decision to liquidate EFUT is in accordance with Vaneck's continuous evaluation of factors such as performance, liquidity and investor interest.

shareholders of EFUT receive cash outlet based on the closure and liquidation of the ETF based on the net inventory value of their holdings.

This change reflects Vaneck's more comprehensive strategy to concentrate on more successful crypto products.

challenges for Ethereum and Ether Futures Etf

vanecks