VanEck to Liquidate Ethereum Futures ETF Amid Waning Interest

VanEck, a leading investment management firm, has announced plans to close and liquidate its Ethereum Futures ETF (EFUT), signaling a significant setback for Ethereum (ETH) as it navigates a volatile market.

The decision stems from diminishing market interest, performance concerns, and other factors.

The ETF, listed on the CBOE exchange, will allow shareholders to sell their EFUT shares until September 16, 2024. After that date, trading will cease, and the fund will be delisted, with a liquidating distribution set for September 23, 2024.

This move also reflects VanEck’s strategic shift towards spot market offerings, following the approval of its US Spot Ethereum ETF and a similar decision regarding its Bitcoin Futures ETF earlier this year. The firm’s decision underscores the challenges facing Ethereum futures in a declining market environment.