Investment manager VanEck has announced the closure and liquidation of its Ethereum futures ETF.
The firm has stated the decision has been made in part due to the approval of its spot Ethereum ETF, ETHV.
The VanEck Ethereum Strategy ETF (EFUT) differs from other ETFs in that this one invests in Ether futures contracts rather than the digital asset itself.
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EFUT, which trades on CBOE, currently has $21.24 million in net assets and has a net asset value of $20.23 as of Sept. 5, according to the fund's website. It was launched on October 2, 2023.
EFUT shareholders have until the end of market hours on September 16 to sell their shares. After that, the shares will cease trading and the remaining shares will be liquidated on September 23 for the equivalent amount in cash.