Vaneck to Wind Down Ethereum Futures ETF

On Sept. 6, Vaneck announced its decision to close and liquidate the Vaneck Ethereum Strategy exchange-traded fund (EFUT).

VanEck is set to close its ether futures exchange-traded fund (ETF) next year, according to a Sept. 6 announcement from the asset manager.

The VanEck Ethereum Strategy ETF (EFUT) will cease operations on September 16, 2024, at which point the fund will be delisted from the New York Stock Exchange Arca.

Following the delisting, no further creation orders will be accepted for the ETF, and shareholders who continue to hold the fund will receive a final distribution, which could include any undistributed income or capital gains.

The final liquidation of the ETF is expected to occur on or around September 23, 2024, at which time shareholders will receive a cash distribution equal to the net asset value of their shares.

According to the announcement, the decision to close the ETF was made by the Board of Trustees of the VanEck ETF Trust after considering various factors, including the fund's performance, liquidity, and assets under management.

VanEck launched its ether futures ETF on March 23, following its earlier debut of the spot bitcoin ETF, HODL, on January 11.

Since launching, the spot bitcoin ETF has attracted $574.32 million in total inflows and holds $605 million worth of BTC reserves.

Meanwhile, VanEck’s spot ether ETF, ETHV, has brought in $63.06 million in inflows and holds approximately $55.56 million in ether reserves.

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