VanEck to Close its Ethereum Futures ETF

Investment firm VanEck on Friday announced its intention to close and liquidate its Ethereum futures ETF (EFUT).

This decision reflects the current challenges facing the Ethereum ETF market, which has seen a total net outflow of $562.3 million, according to data from SoSo Value.

In fact, since September 15, there has only been one day of positive flows, with one day without any flows and the remaining days showing outflows.

Specifically, the VanEck Ethereum Strategy ETF, which trades under the ticker ETHV on the CBOE, will no longer be available for trading starting September 16.

Shareholders who hold onto their shares until the expected liquidation date of September 23 will receive a cash distribution equivalent to the net asset value of their holdings.