VanEck's Ethereum Strategy Fund (EFUT) will be listed on the Chicago Board Options Exchange (CBOE) starting October 2nd, after receiving approval from the US Securities and Exchange Commission (SEC). The fund will offer standardized, cash-settled futures contracts for Ether, accessible for trading on the Commodity Futures Trading Commission (CFTC) regulated commodities platform. This ETF will allow investors to gain exposure to Ether futures contracts without directly owning the digital asset. The ETF will be actively managed under a C-corp structure, which provides a more dynamic and beneficial tax framework for long-term investors. VanEck has set the expense ratio at 0.66%. With over $77 billion in assets under management (AUM), the investment firm has been promoting the ETF on social media, including X (formerly Twitter), and has released a video encouraging investors to "Enter the Ether."
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VanEck's Ethereum ETF to list on CBOE. All Good Things Come to Ethereum Core Developers
VanEck, an investment firm, has announced its plans to make a significant donation to the core development team behind Ethereum. As per a separate statement on X, the firm intends to donate 10% of its profits from the Ethereum Strategy ETF to the Protocol Guild, a team of Ethereum contributors managing the network's core development, over a period of ten years.
VanEck's Ethereum ETF to list on CBOE. The Protocol Guild has received over $13.3 million in donations, with over 4,800 donations made, and the average amount being $2,842. Other projects that have contributed to the Protocol Guild include Arbitrum, Uniswap, and Moloch DAO. Additionally, VanEck is among several investment managers that will soon start trading Ether futures contracts. Bitwise Asset Management, another US-based firm, will offer two Ether futures contracts and a Bitcoin strategy fund starting October 2. Invesco Galaxy Ethereum ETF has also notified the SEC of its intention to offer an Ethereum-backed Strategy ETF.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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