Ethereum ETF Futures (EFUT) will be discontinued and liquidated by the prominent investment management company VanEck. The price of ETH, which was already experiencing a period of erratic trading due to a general market decline, has taken a huge hit. Among the many factors given by the ETF provider for the decision are declining market interest and performance issues.
Recent news indicates that VanEck’s Ethereum Futures ETF, traded on the CBOE, would be liquidated and closed. The decision was made after a thorough evaluation of the company’s products and services. With an emphasis on liquidity, performance, and investor demand as a whole. The ETF issuer has decided to wind down the fund since, in their opinion, the EFUT has not lived up to their expectations.
At the same time, the company has informed shareholders that they will be able to sell their EFUT shares on the CBOE market until September 16, 2024. The ETF will be delisted and trading will cease after this date. Nevertheless, beyond this date, on September 23, 2024, every shareholder who still owns shares will get a payout from the liquidation based on their net asset value.
Furthermore, the decision underscores larger worries about the market attitude towards Ethereum futures. Particularly in light of dwindling interest and trade activity. The company noted that the Ether ETF’s performance has been affected by low investor demand and continued market issues.
But after getting its US Spot Ethereum ETF approved, VanEck is also trying to streamline its strategic portfolio, which is why it made its latest choice. This action is in line with the firm’s previous decision to phase down its Bitcoin Futures ETF. After its US Spot Bitcoin ETF was approved in January, indicating a clear intention to focus on spot market products.
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