VanEck launches Ethereum futures ETF EFUT. The end of September and the beginning of October are in a bullish mood for crypto. ETF news, SEC backing into a corner and inflows into the market led to the revival. Another reason for the revival in the crypto market was the Ethereum futures ETF.
VanEck recently applied to launch an Ethereum futures ETF. According to the latest statements, VanEck’s product EFUT has been launched.
VanEck launches Ethereum ETF
Ethereum was blown away by the last minute falling news flows. VanEck’s Ethereum ETF application was accepted and the company’s product, EFUT, was launched. EFUT was offered to the buyer as the VanEck Ethereum futures ETF.
In the announcement made by the company, it was stated that EFUT will not invest directly in Ethereum or other crypto assets. EFUT will not be traded as a Spot ETF product.
Sharing his views on the subject, VanEck Digital Asset Products Director Kyle DaCruz said;
“Ethereum is the layer 1 building block of the decentralized application ecosystem, driving innovation in digital currencies, global payments, smart contracts and much more with Ethereum as the platform’s method of exchange. “While investors still do not have the ability to access digital assets through a spot ETF product in the US, we are very pleased to launch EFUT as a way to access the robust futures market that has developed around ETH.”
The VanEck management team enthusiastically welcomed the launch of the Ethereum futures ETF product. As it is known, the SEC has a negative attitude towards spot Bitcoin ETFs. For this reason, it was on the agenda that a similar approach could come for Ethereum.
ETF news fueled the market. While Bitcoin consolidated above $28,000, Ethereum’s rise to $1,750 attracted attention.
