VanEck is getting ready to launch its Ethereum Futures Exchange Traded Fund

According to a press statement, the massive financial giant VanEck is getting ready to introduce an Ethereum Futures Exchange Traded Fund.

Exchange Traded Funds (ETFs) are investments that attempt to produce financial gains by making investments in Ethereum (ETH) futures contracts. VanEck, a worldwide investment management organization, has announced that it would soon launch the VanEck Ethereum Strategy ETF (EFUT), an ETF.

Unlike some other digital asset investing methods, EFUT will not buy ETH or other cryptocurrencies on the open market.

The fund will make investments in ETH futures contracts that are standardized and cash-settled, and will be traded on commodities exchanges that are regulated with the Commodities Futures Trading Commission (CFTC). The only ETH futures contracts in which the fund intends to invest at this time are those that are traded on the Chicago Mercantile Exchange.

Greg Krenzer, who is the Head of Active Trading at VanEck, will be responsible for the active management of the ETF after it is listed on the Chicago Board Options Exchange (CBOE). Krenzer has been trading futures and other assets for more than 20 years and has been with VanEck since 1994.

Along with the VanEck Bitcoin Strategy ETF (XBTF), the EFUT will be able to provide exposure to significant digital assets via the lens of futures trading.

Also Read: The Central Bank Of Brazil Is Pushing For Stricter Crypto Regulation