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Investment management firm VanEck is set to launch its Ethereum Strategy ETF on Oct. 2, with the product now listed on its website under the ticker EFUT and set for trading on the Chicago Board Options Exchange (CBOE).The VanEck Ethereum Strategy exchange-traded fund (ETF) will look to accrue capital by investing in Ether (ETH) futures contracts and has no direct exposure to ETH. The fund will expose cash-settled ETH futures contracts on Commodity Futures Trading Commission-regulated commodities exchanges.VanEck also touts the benefits of the product being a “C-Corp” structure, which includes tax benefits to long investors compared with registered investment company structures.When you’re ready, ENTER THE ETHER. The VanEck Ethereum Strategy ETF ($EFUT) is coming soon. Read our press release:— VanEck (@vaneck_us) September 28, 2023

The investment manager has been advertising the launch of the ETH spot ETF on its social media accounts over the past few days, with two “Enter the Ether” themed TV commercials promoting the upcoming launch.VanEck also announced that it intends to donate 10% of all profits from its upcoming Ether futures ETF to Ethereum core developers over the next 10 years.As Cointelegraph reported, 15 different Ether futures ETFs from nine issuers were awaiting approval from the United States Securities and Exchange Commission at the end of September 2023. Analysts cited sources within the SEC saying the regulator wanted to approve Ether futures ETFs before a potential U.S. government shutdown.Meanwhile, Bitwise Asset Management confirmed that trading for its two Ether ETH futures ETFs would commence on Oct. 2 as well, with investors gaining access to ETH futures trading on the Chicago Mercantile Exchange.

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