VanEck has announced its decision today to liquidate and close its Ethereum Strategy ETF listed at the CBOE.
Ethereum) (ETH) ETF fund (ticker symbol ‘EFUT’) will cease trading after the market closes on Sept. 16, according to a VanEck press releaseThe liquidation of the company is scheduled to occur around 23 September.
Shareholders that still own EFUT at the time of the liquidation receive a payout based on their net asset value.
This is the decision that follows VanEck’s Regular evaluation of factors like “performance, liquidity, assets under management, and investor interest, among others.” This release explains that the closure of the fund was due to these operational criteria as well as other factors.
VanEck has recently made ETH moves
VanEck moves after the approval The decision to stop the ETF based on futures may have been influenced by the existence of an exchange-traded spot Ethereum product.
A ETP directly exposes an asset By holding Bitcoin or an equivalent like Bitcoin spot (BTC(or Ethereum. The price of futures is tracked by a futures ETF, which offers indirect exposure to the future price movement of an asset.
Before the dissolution of the fund, investors may receive a distribution for any net gains or income that remains. The company, according to a press release, will submit a tax-related final report detailing capital losses and gains at year’s end.
VanEck has announced that it will be launching a new website in January. announced the liquidation The company cited performance, liquidity and low investor demand as reasons for the delisting of its Bitcoin Strategy ETF. After January 30, the ETF that mainly invested in Bitcoin Futures was scheduled to be delisted.
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Source: crypto.news
