Spot Ethereum ETFs are stealing the show and killing demand for futures-based crypto ETFs.
Asset manager VanEck is shuttering its futures-based Ether (ETH) exchange-traded fund, citing insufficient demand as spot cryptocurrency ETFs dominate inflows, according to a Sept. 6 announcement.
VanEck chose to close the fund due to factors “including performance, liquidity, assets under management, and investor interest,” it said.
Shares of VanEck Ethereum Strategy ETF (EFUT) will stop trading on Sept. 16 and fund assets will be liquidated and returned to investors on or around Sept. 23, according to the announcement.