As a seasoned crypto investor with a penchant for keeping my fingers on the pulse of the ever-evolving digital asset market, I can’t help but feel a pang of concern upon hearing about VanEck’s decision to liquidate its Ethereum ETF Futures (EFUT).
VanEck, a prominent investment management company, announced its intention to withdraw and sell off its Ethereum ETF Futures product (EFUT). This move is significant for the price of Ethereum, which has been experiencing turbulence in the market due to a general downturn. The decision by the ETF provider was largely influenced by factors such as dwindling market demand, poor performance, and other issues.
VanEck To Close & Liquidate Ethereum ETF Futures
In a recent announcement, VanEck revealed they will be shutting down and liquidating their Ethereum Futures ETF, available on the CBOE exchange. This action was taken after a thorough evaluation of their product lineup, considering factors such as market liquidity, performance, and investor interest. The EFUT, according to the issuer, did not meet their expectations, which prompted the decision to discontinue the fund.
Starting from now, shareholders can sell their EFUT shares on the CBOE exchange until September 16, 2024. After this deadline, trading will no longer be allowed and the ETF will be removed from the exchange. However, investors who hold onto their shares after this date will receive a distribution based on the net worth of their holdings as of the expected liquidation date of September 23, 2024.
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2024-09-06 19:16