VanEck is expanding its crypto offerings with an Ethereum-focused fund, albeit stopping short of direct exposure. The prominent investment manager filed for an actively managed ETF investing in Ethereum futures contracts on Thursday.
The proposed VanEck Ethereum Strategy ETF (ticker: EFUT) marks the company’s latest attempt to quench investor demand for crypto assets within regulatory bounds. VanEck noted the new fund follows the model of its existing Bitcoin Strategy ETF, which similarly invests in futures tracking the leading cryptocurrency.
VanEck’s EFUT will trade on CBOE
The structured approach allows exposure to Ether’s volatility while avoiding direct cryptocurrency ownership associated with heightened risks. EFUT will trade on CBOE and actively manage futures positions to balance profit potential and downside protection.
VanEck’s global head of active trading, Greg Krenzer, will steer the fund’s complex strategy. The firm hopes EFUT will attract investors interested in Ethereum’s long-term utility, but is wary of its exaggerated swings.
The announcement comes at a time when the Securities and Exchange Commission delayed a ruling on the controversial VanEck Ethereum Trust ETF on Wednesday.
Regulatory barriers remain high for spot cryptocurrency funds, making futures-based versions like EFUT a more viable pathway to launch.