VanEck today announced that it would be closing and liquidating its Ethereum Strategy ETF which is listed on CBOE.
Ethereum is a cryptocurrency (ETH) ETF fund (ticker symbol ‘EFUT’) will cease trading after the market closes on Sept. 16, according to a VanEck press releaseThe liquidation of the company is scheduled to occur around 23 September.
Shareholders that still own EFUT at the time of the liquidation receive a payout based on their net asset value.
You will be notified of the outcome. VanEck’s Evaluation of various factors, such as “performance, liquidity, assets under management, and investor interest, among others.” The release states that these and other operational factors led to fund closure.
VanEck recently moved ETH
VanEck moves after the approval A spot Ethereum ETF may have had an influence on the decision to end the ETF that was based upon futures.
A ETP directly exposes an asset By holding Bitcoin or an equivalent like Bitcoin spot (BTCEthereum. Futures ETFs track the prices of futures contracts and offer indirect exposure to future asset price movements.
Before the dissolution of the fund, investors may receive a distribution for any net gains or income that remains. According to the press release, for tax purposes the company will issue a final statement at the end of the year detailing any losses or gains associated with liquidation.
VanEck has announced that it will be launching a new website in January. announced the liquidation The company cited performance, liquidity and low investor demand as reasons for the delisting of its Bitcoin Strategy ETF. After January 30, the ETF that primarily invested Bitcoin futures was scheduled to be delisted.
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Source: crypto.news