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What will be the primary reason cited by VanEck for closing the Ethereum futures ETF?
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VanEck to Close and Liquidate Ethereum Futures ETF by September 23, 2024
Sep 6, 2024, 03:37 PM
VanEck has announced plans to close and liquidate its Ethereum futures ETF (EFUT). The decision, approved by the Board of Trustees on September 5, 2024, is attributed to various factors including performance, liquidity, assets under management, and investor interest. Additionally, the approval of VanEck's spot Ethereum ETP has influenced this move. The liquidation is scheduled to be completed by September 23, 2024. This follows a similar decision earlier this year when VanEck closed its Bitcoin futures ETF due to the approval of its Bitcoin spot ETF. The announcement was made via a press release and is part of a strategic realignment of VanEck's product offerings.
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