VanEck to Close and Liquidate Ethereum Strategy ETF Amid Shift to Spot Products

VanEck to Close and Liquidate Ethereum Strategy ETF Amid Shift to Spot Products

VanEck has announced today its decision to shut down and liquidate its Ethereum Strategy ETF, which is listed on the CBOE. The fund, trading under the ticker symbol ‘EFUT,’ will cease operations after the market closes on September 16, according to a press release from VanEck. Liquidation of the fund is expected to occur around September 23.

Shareholders who still hold EFUT shares at the time of liquidation will receive a cash payout based on the net asset value of their holdings.

The decision follows VanEck’s routine assessment of factors including “performance, liquidity, assets under management, and investor interest,” among other operational considerations, which collectively led to the conclusion to close the fund.

Recent Ethereum Moves by VanEck

This move comes shortly after VanEck received approval for a spot Ethereum exchange-traded product (ETP), which may have contributed to the decision to wind down the futures-based ETF.

Unlike futures ETFs, which track the price of futures contracts and provide indirect exposure to an asset’s future value, spot ETPs directly hold an asset or its equivalent, such as spot Bitcoin or Ethereum.

Investors may also receive a final distribution of any remaining net income or capital gains before the fund’s liquidation is finalized. For tax purposes, VanEck will issue a final report at the end of the year detailing any capital gains or losses related to the fund’s closure.

Earlier this year, VanEck announced the liquidation of its Bitcoin Strategy ETF, which was primarily invested in Bitcoin futures. Citing similar reasons—performance, liquidity, and low investor interest—that fund was delisted after January 30.