Global investment manager VanEck has announced that the Ethereum Strategy ETF fund, EFUT, is now available for trading.
The VanEck Ethereum Strategy ETF (EFUT) aims to achieve capital appreciation by investing in Ethereum futures contracts.
This actively managed fund offers exposure to investments linked to Ether through an exchange-traded instrument. It’s important to note that the fund does not directly invest in Ethereum or other digital assets.
Effective September 29, 2023, the Ethereum ETF fund is now live for trading, marking a significant milestone in the cryptocurrency industry.
In an exciting move, VanEck has committed to supporting Ethereum development by pledging to donate 10% of the EFUT ETF’s profits to Protocol Guild.
This funding initiative supports over 150 individuals who play a crucial role in maintaining Ethereum’s core protocol for at least a decade.
This development signifies the launch of the first-ever exchange-traded funds based on Ethereum futures in the United States.
It marks the culmination of years of efforts by various firms to establish investment vehicles centered around Ethereum (ETH).
Alongside VanEck’s Ethereum futures fund, other funds by ProShares, Bitwise, and more are set to commence trading, underscoring the growing interest in Ethereum as an investment asset.