VanEck announces the liquidation of futures ETH ETFs
The fund’s closure will occur amid assessing key factors including performance and investor interest
09.09.2024 - 10:30
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What’s new? VanEck Investment Company announced on September 6 that its futures ETH ETF will be closed and liquidated, with the last day of trading scheduled for September 16, 2024, on the Chicago Board Options Exchange (CBOE).
A statementon the official website stated the following:
“VanEck continuously monitors and evaluates its ETF offerings across a number of factors, including performance, liquidity, assets under management, and investor interest, among others. The decision was made to liquidate the Fund based on an analysis of these factors and other operational considerations.”
BlackRock’s ETH ETF has entered the top 15 in terms of inflows among new funds
The product was launched a week ago and has already raised over $600 million
Shareholders holding shares on the liquidation date, expected to be September 23, will receive a cash payment based on their assets, which will be credited to their brokerage accounts. The company also indicated that the final tax status of distributions made by the fund, including the liquidation distribution, will be provided to shareholders along with the fund’s tax returns at year-end.
Vaneck launched the spot ETH ETF on July 23, following the debut of the spot bitcoin ETF launched on January 11. Since launch, the spot bitcoin ETF has recorded $574,32 million in total inflows and holds $605 million in BTC reserves. In contrast, the spot ETH ETF has attracted $63,06 million in inflows and contains approximately $55,56 million in BTC reserves.
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