VanEck to close its Ethereum futures ETF in September, a year after launch

2024-9-7 20:58

VanEck is closing its Ethereum Futures ETF (EFUT) by September 16, 2024. The EFUT saw low asset accumulation as compared to VanEck’s spot Ethereum ETF. Generally, Ethereum is facing challenges from competition and reduced network revenue and fees.

VanEck is set to close its Ethereum Strategy ETF (EFUT) by September 16, 2024, with liquidation expected by September 23.

EFUT, launched in October 2023, has struggled with low asset accumulation and performance compared to VanEck’s more successful spot Ethereum ETF (ETHV).

Strategic realignment

VanEck’s move to close the EFUT ETF comes as part of a strategic review of its ETF offerings. Launched in October 2023, EFUT was designed to provide exposure to Ethereum futures, but it amassed only $21 million in assets, contrasting sharply with the $63 million net inflows seen by the spot Ethereum ETF (ETHV).

The decision to liquidate EFUT aligns with VanEck’s ongoing assessment of factors such as performance, liquidity, and investor interest.

Shareholders of EFUT will receive cash distributions based on the net asset value of their holdings following the ETF’s closure and liquidation.

This shift reflects VanEck’s broader strategy of focusing on more successful crypto-related products.

Challenges facing Ethereum and Ether Futures ETF

VanEck’s August 2024 Crypto Monthly Recap highlights several challenges contributing to the recent Ethereum price struggles.

According to VanEck’s report, Ethereum’s share of decentralized exchange trading volume has dropped significantly from 42% in 2022 to 29% in 2024.

The report attributes this decline to several factors, including a general decrease in network revenue, deliberate policy decisions, and competition from higher-throughput blockchains such as Solana, Sui, and Aptos. These competitors are drawing speculative demand away from Ethereum, exacerbating its price issues.

Additionally, Ethereum’s layer-1 revenues have been impacted by competing layer-2 networks, which have led to a 99% drop in network fees since the Dencun upgrade in March 2024. This has intensified the competition within Ethereum’s ecosystem and driven the proliferation of layer-2 solutions, with some critics suggesting that the current number of Ethereum scaling solutions exceeds the necessary demand.

VanEck’s decision to close EFUT while continuing to offer other crypto-related products, such as the Digital Assets Mining ETF (DAM) and Bitcoin Strategy ETF (XBTF), underscores the firm’s ongoing engagement with digital assets despite the challenges facing Ethereum.

The post VanEck to close its Ethereum futures ETF in September, a year after launch appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3140.99 (+0.25%)
Объем 24H $35.726b
Изменеия 24h: 1.38 %, 7d: -0.81 %
Cегодня L: $3039.69 - H: $3148.32
Капитализация $378.261b Rank 2
Цена в час новости $ 2169.19 (44.8%)

ethereum etf vaneck september efut futures generally

Источник: coinjournal.net

ethereum etf → Результатов: 126


Фото:

Best Crypto to Buy Today: UFC Champion Alex Pereira New BDAG Ambassador | BTC and ETH ETF Hype

Bitcoin & Ethereum ETF Hype Rises But BlockDAG Cruises As UFC Champion Alex Pereira Signs as Brand Ambassador After a period of volatility, Bitcoin and Ethereum are making strong recoveries. Bitcoin has regained the $58,000 mark, and Ethereum is boosted by news of Ethereum ETF approvals. Amid these developments, BlockDAG, […]

2024-7-18 23:00


Цена Ethereum превысила $3 300 на фоне ожиданий одобрения ETF

Стоимость Ethereum превысила $3 300 на фоне растущих ожиданий, что спотовые ETF на эту криптовалюту могут быть запущены уже в конце этой недели. По данным TradingView, за последнюю неделю цена Ethereum выросла на 16% — с $2 909 до текущего уровня $3 364.

2024-7-15 14:03


Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000

Global asset management firm, Bernstein has expressed confidence, foreseeing a fairly strong chance of the United States Securities and Exchange Commission (SEC) approving an Ethereum Spot ETF.    SEC Ethereum Spot ETF Approval Imminent In a February 19 research report, Bernstein analysts Gautam Chhugani and Mahika Sapra disclosed that Ethereum, the world’s second-largest cryptocurrency, may be the only digital asset after Bitcoin, to win an ETF approval from the US SEC.

2024-2-21 17:00


SEC отложила вердикт по спотовым Ethereum-ETF нескольких компаний

Комиссия по ценным бумагам и биржам США (SEC) объявила о переносе окончательного решения по нескольким заявкам на создание биржевых фондов (ETF), связанных с Ethereum. В числе отложенных заявок — ETF Hashdex Nasdaq Ethereum и ETF Grayscale Ethereum Futures, которые были поданы ранее в этом году.

2023-12-19 11:46


Ethereum (ETH) Soars on BlackRock ETF Hopes But On-Chain Metrics Reveal Cracks

Ethereum has seen a surge in price over the past couple days, reaching as high as $2,132 as optimism grows around BlackRock’s plans to launch a spot Ethereum exchange-traded fund (ETF). The filing with the SEC has led to euphoric sentiment among traders, with Ethereum being the top trending token based on the spike in […] The post Ethereum (ETH) Soars on BlackRock ETF Hopes But On-Chain Metrics Reveal Cracks appeared first on CaptainAltcoin.

2023-11-11 10:03


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin breaks $82,000 boosted by Trump’s re-election win

Bitcoin’s upward trajectory follows Donald Trump’s presidential win last week Over the past 30 days, Bitcoin has increased in value by more than 30% Institutional interest is rising with Bitcoin ETFs, noted by BlackRock’s IBIT ETF reaching $1.