Investment management firm VanEck announced today that it plans to shutter its Ethereum futures ETF (EFUT). The decision comes after a thorough evaluation of the fund’s performance, liquidity, assets under management, investor interest, and other operational factors.
VanEck’s move may be because it has already launched a spot ETH ETF. In January this year, VanEck also closed its Bitcoin futures ETF due to the approval of its Bitcoin spot ETF.
In a press release, VanEck stated: “As the sponsor of VanEck ETFs, we continuously monitor and evaluate our offerings across a number of factors… The decision was made to liquidate the Fund based on an analysis of these factors and other operational considerations.”
Key Dates for Shareholders:
- September 16, 2024: Last day for shareholders to sell their shares on the listing exchange.
- September 16, 2024: Fund shares will cease trading and be subsequently de-listed.
- September 23, 2024 (expected): Fund liquidation date. Shareholders will receive a cash distribution equivalent to the net asset value of their shares.
- September 23, 2024 (expected): Proceeds from the liquidation are scheduled to be sent to shareholders.
