Asset manager VanEck has just announced the launch of the Ethereum Strategy ETF.
According to the press release, the ETF, which is actively managed, will be based on CFTC-regulated Ether-based futures settlement.
The fund, whose exact launch date has not yet been disclosed, will trade on the CBOE under the ticker EFUT.
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The new instrument is similar to the company's other product, the Bitcoin Strategy ETF (XBTF), which was launched back in November 2021.
VanEck analysts predicted in June Ethereum would reach $11,800 by 2030.
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The US Securities and Exchange Commission (SEC) has recently postponed decisions on applications by 21Shares and VanEck to launch a spot ETF based on Ethereum.
According to Bloomberg analyst Eric Balchunas, Ether-based futures instruments have a "90% chance" of being launched in early October.