VanEck Gears Up for Imminent Launch of Ethereum Futures ETF
Summary:
Investment management firm VanEck has started to promote its forthcoming Ethereum futures exchange-traded fund (ETF), which industry experts believe could be launched as early as October 2. The firm released two "Enter the Ether'' themed commercials and a press statement, announcing the imminent launch of its Ethereum Strategy ETF, known as EFUT. The ETF will be listed on the Chicago Board Options Exchange and managed by the company's Head of Active Trading. Concurrently, the financial service firm Valkyrie is readying for Ether exposure through its Bitcoin Strategy ETF.
VanEck, a renowned investment manager, has begun promoting its anticipated Ethereum futures exchange-traded fund (ETF), named "EFUT." Some experts speculate it could launch as early as October 2. The display of two “Enter the Ether” television adverts on September 28 signifies that the ETF's launch is imminent. The adverts were released in tandem with a VanEck statement indicating that EFUT would be listed on the Chicago Board Options Exchange and managed by the company’s Head of Active Trading, Greg Krezner.
Bloomberg ETF pundits, Eric Balchunas and James Seyffart, construed the ads as an indication that the ETF might commence sooner than anticipated. Despite a document dated September 29 suggesting a delay of approximately 60 days, Seyffart predicts a launch may occur as early as Monday, citing potential expedited approval by the SEC.
The initial "Enter the Ether" promotional campaign involves a short 15-second clip featuring five actors and unconventional alien-esque background music. The narrator announces, "Ethereum. Now in an ETF form. Coming soon." A second advert is more straightforward, hinting that a "shift" is impending and that Ethereum's influence "will draw everyone in."
With the approval of similar ETFs, notably Bitcoin spot ETFs, Balchunas projects an escalation in corresponding marketing campaigns. He describes the impending situation as "a marketing war like we've never seen since they all do the same thing and launch on the same day."
In related news, financial service firm Valkyrie announced upcoming plans to offer Ether exposure via its existing Bitcoin Strategy ETF, becoming one of the initial firms to do so. This decision follows several pending applications with the U.S. Securities and Exchange Commission. On September 28, Seyffart suggested the potential for multiple Ethereum futures ETFs to be approved as early as next week, likely due to an impending U.S. government shutdown. Currently, nine issuers are seeking approval for 15 Ether futures ETFs.
Published At
9/29/2023 2:47:39 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.