VanEck's Ethereum Strategy ETF on Track for CBOE Listing

cryptonews.com:

VanEck's Ethereum Strategy Fund (EFUT) is set for listing on the Chicago Board Options Exchange (CBOE), according to an announcement on its website.

The investment management firm is gearing up to launch its Ethereum-styled futures contracts on October 2, having received approval from the US Securities and Exchange Commission (SEC).

According to the company, the Ether futures exchange-traded fund (ETF) is expected to be entirely standardized, cash-settled futures contracts accessible for trades on the Commodity Futures Trading Commission (CFTC) regulated commodities platform. 

An ETF tracks the performance of a particular index or basket of financial instruments, which is what VanEck's offering aims to do.

Dubbed the Ethereum Strategy Fund (EFUT) on its website, this offering will grant investors access to futures contracts without requiring direct exposure to the digital asset itself.

VanEck further clarified that the ETF will be actively managed under a C-corp structure. A C-corp structure provides a more dynamic and beneficial tax framework to long-term investors than the S-corp structure. 

Providing more details on how much investors will be charged in management fees, VanEck put its expense ratio at 0.66%. 

Meanwhile, the investment firm with over $77 billion in assets under management (AUM) has been generating buzz about the ETF on all its social media handles, especially X (formerly Twitter). 

It has since launched a video encouraging investors to "Enter the Ether."

VanEck has also stated its intentions to make a significant donation to the core development team behind Ethereum. 

According to a separate statement on X, the investment firm intends to donate 10% of its profits from the Ethereum Strategy ETF to the Protocol