VanEck Winds Down ETH Futures ETF

VanEck will close its Ethereum Strategy ETF (EFUT), which launched in October 2023 and held ETH futures contracts, due to insufficient asset growth compared to its spot ether ETF, ETHV. EFUT, managing only $21 million in assets, struggled as investors preferred spot Ethereum ETFs, which received SEC approval in July. VanEck’s decision, effective September 16 when shares will be delisted from the Cboe exchange, reflects ongoing challenges with futures ETFs, including roll costs and contango. This move follows Grayscale's withdrawal of its ether futures ETF application and VanEck's earlier plan to close its bitcoin futures ETF after launching a spot bitcoin ETF.

Source: Blockworks