VanEck Switches Gears: Spot Ethereum ETF Takes the Stage
Looks like VanEck is making a big move! They’re closing their Ethereum futures ETF, EFUT, and focusing their energy on their new spot Ethereum ETP, ETHV. This comes after the SEC greenlit ETHV, making it the first spot Ethereum ETP in the US.
Why the shift? VanEck says performance, liquidity, assets under management (AUM), and investor interest were all factors in their decision. And with the success of ETHV, it’s no surprise they’re doubling down on spot Ethereum.
JPMorgan: Ethereum ETFs are Keeping Up
JPMorgan analysts are also throwing some weight behind Ethereum ETFs. They’ve pointed out that Ethereum ETF AUM, as a percentage of Ethereum’s market cap, is actually comparable to Bitcoin ETF AUM at a similar point after launch. This suggests that Ethereum ETFs are gaining traction, despite some suggesting otherwise.
While the future of Ethereum ETFs is still being written, VanEck’s decision to focus on spot Ethereum is a significant move, indicating a shift in the market.
