VanEck plans to close and liquidate its Ethereum futures ETF

ChainCatcher news, according to Businesswire, ETF issuer VanEck announced plans to close and liquidate its Ethereum Futures ETF (EFUT). The VanEck ETF Trust Board has approved the liquidation and dissolution of the fund. VanEck stated that it continuously monitors and evaluates its ETF products, considering multiple factors including performance, liquidity, assets under management, and investor interest. This decision was made based on an analysis of these factors and other operational considerations to liquidate the fund.

It is reported that shareholders of the fund can sell their shares on the fund's listing exchange before the market closes on September 16, 2024 (potential brokerage trading fees may apply). After the market closes on September 16, 2024, the fund shares will no longer be traded on the listing exchange and will subsequently be delisted. The expected fund liquidation date is around September 23, 2024, at which time shareholders still holding fund shares will receive a cash liquidation distribution equal to the net asset value of their shares in the cash portion of their brokerage accounts.