In a surprising move, VanEck has announced the closure and liquidation of its Ethereum Futures ETF (EFUT). 📉 The fund, which trades on the Chicago Board Options Exchange (CBOE), will be delisted by September 16, 2024. This decision follows a thorough performance and market analysis, revealing declining investor interest and poor performance.
VanEck’s Ethereum Futures ETF had struggled to gain traction, with low inflows and underwhelming returns compared to its Bitcoin counterparts. The final trading day is set for September 16, and shareholders will receive a cash payout based on the net asset value (NAV) of their holdings by September 23.
This closure marks a significant moment in the crypto ETF landscape, highlighting the challenges faced by Ethereum-based funds. VanEck is now shifting its focus to other opportunities, including potential Solana ETFs, as it continues to navigate the evolving crypto market.
What are your thoughts on VanEck’s decision to shut down its Ethereum Futures ETF? Do you think this signals a broader trend for Ethereum-based investments? Share your opinions in the comments below and follow us for more updates on the latest crypto news!
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The much-anticipated Ethereum Futures ETFs from renowned asset managers such as VanEck, ProShares, and others are now available for trading in the United States.

In a historic development for the cryptocurrency sector, VanEck, ProShares, and other notable entities have successfully introduced their Ethereum (ETH) Futures Exchange Traded Funds (ETFs), heralding the dawn of a fresh era in the cryptocurrency ETF market.
This announcement arrives despite a series of postponements by the Securities and Exchange Commission (SEC) in granting approval for Bitcoin-related ETFs.
VanEck’s Distinctive Approach to Ethereum ETFs
VanEck highlighted in its submission that the VanEck Ethereum Strategy ETF (CBOE: EFUT) has been crafted to pursue capital growth through investments in Ethereum (ETH) futures contracts. This offers investors a unique opportunity to engage with the world of digital assets.
The EFUT fund primarily allocates its investments to standardized, cash-settled Ethereum (ETH) futures contracts, which are traded on commodity exchanges duly registered with the Commodity Futures Trading Commission (CFTC). Presently, the fund’s focus is on ETH futures available on the Chicago Mercantile Exchange, recognized as one of the most reputable and regulated futures markets on a global scale.
Kyle DaCruz, Director of Digital Asset Product at VanEck, remarked in a statement, “Ether serves as the cornerstone of the decentralized applications ecosystem, and it holds a crucial position in propelling the expansion of digital currencies, smart contracts, and various other applications. Through EFUT, investors are now empowered to tap into the dynamic futures market associated with Ethereum.”
ProShares, renowned for pioneering the inaugural U.S. Bitcoin futures ETF, has unveiled the “ProShares Ether Strategy ETF.” This innovative product enables investors to partake in the price movements of Ethereum futures contracts. Furthermore, ProShares has introduced two additional ETFs that provide a blend of exposure to both Bitcoin and Ethereum.
A Milestone Achievement for Ethereum and the Cryptocurrency Market
The introduction of these ETFs signifies a pivotal juncture for the cryptocurrency sector, with a notable impact on ETH, the second-largest cryptocurrency by market capitalization. These ETFs bring forth a range of benefits, encompassing regulatory supervision, tax efficiency, and accessibility, thereby catering to conventional investors who might exercise caution when it comes to direct cryptocurrency ownership.
Even as Ethereum futures ETFs gain traction within the cryptocurrency realm, they are building upon the precedent set by Bitcoin futures ETFs. The debut of the inaugural Bitcoin futures ETF in the United States in late 2021, courtesy of ProShares, ushered in an era where investors could participate in Bitcoin’s price fluctuations via a regulated investment instrument.
These ETFs are expected to play a pivotal role in bridging the gap between the cryptocurrency realm and traditional finance, especially as the cryptocurrency sector continues to evolve and mature.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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VanEck unveils 15 insightful predictions for the cryptocurrency market in 2024, forecasting significant developments.The predictions cover a broad spectrum, from the economic implications of a US recession to technological advancements in blockchain.Highlights include the first Bitcoin ETFs, Ethereum’s performance, changes in NFT activity, and shifts in stablecoin market dynamics.
Diving into VanEck’s 2024 crypto predictions, we analyze each projection, exploring its potential impact on the market, investor sentiment, and the broader financial ecosystem.
Economic and Technological Predictions: A Dual Impact

VanEck’s predictions start with a potential US recession, which could be a double-edged sword for cryptocurrencies. While economic downturns typically drive investors towards safe-haven assets, Bitcoin’s emerging status as ‘digital gold’ might benefit from this, especially with the introduction of Bitcoin ETFs. These ETFs, expected to attract substantial capital, could provide a buffer against market volatility, offering a more regulated and accessible means for investors to tap into Bitcoin’s value.
Bitcoin Halving and Price Trajectory

The 4th Bitcoin halving in 2024 is predicted to have a minimal disruptive impact, likely due to the market’s increasing maturity and understanding of Bitcoin’s cyclical nature. Historically, halving events have preceded significant price rises, suggesting a potential uptick in Bitcoin’s value post-halving. This could be an opportune moment for investors, particularly those betting on Bitcoin’s long-term value proposition.
Ethereum’s Position in the Crypto Race

Ethereum’s inability to flip Bitcoin might be seen as a short-term setback, but its projected outperformance of major tech stocks is significant. Ethereum’s role as the backbone of DeFi and NFTs, along with upgrades like EIP-4844, will likely enhance its network efficiency and scalability, attracting more developers and investors to its ecosystem. This growth, however, may be challenged by other emerging smart contract platforms seeking to capitalize on Ethereum’s limitations.
NFTs and DeFi: The Evolving Landscape
NFT activity reaching new highs indicates a resurgence of interest in digital art and collectibles, with Ethereum leading the charge. Bitcoin’s foray into NFTs through Ordinals could introduce a new dynamic to the market, diversifying the types of assets available. In the DeFi space, the rise of KYC-compliant apps like Uniswap could mark a shift towards regulatory compliance, potentially attracting institutional investment and enhancing overall market stability.
Market Leadership and Technological Innovations
Binance’s potential loss of the top spot in spot trading signals a more competitive and diverse exchange landscape. This could foster innovation and improve services across platforms. The rise of Solana and other fast blockchains in DEXs indicates a growing demand for speed and efficiency in crypto transactions, reflecting the market’s rapid evolution.
Blockchain in Gaming and Beyond
The prediction of a blockchain game surpassing 1 million daily players signifies the merging of gaming and crypto, a trend that could open up new avenues for user engagement and monetization in the gaming industry. Additionally, the growth of DePin networks like Hivemapper and Helium suggests a broader application of blockchain technology beyond financial transactions, demonstrating its versatility and potential for disruption in various sectors.
1. US Recession and the Rise of Bitcoin ETFs
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Prediction #1 suggests a US recession coinciding with the launch of the first spot Bitcoin ETFs, potentially attracting over $2.4 billion in Q1 2024 to support Bitcoin’s price.
2. Bitcoin Halving and Its Market Impact
Prediction #2 expects the 4th Bitcoin halving to see minimal market disruption and a post-halving increase in Bitcoin’s price, benefiting cost-efficient miners.
3. Bitcoin’s All-Time High in Q4 2024
Prediction #3 forecasts an all-time high for Bitcoin in Q4 2024, potentially driven by political events and regulatory changes after the US presidential election.
4. Ethereum’s Growth without Flipping Bitcoin
Prediction #4 projects that Ethereum will not surpass Bitcoin but will outperform major tech stocks, with its market share challenged by other smart contract platforms.
5. Dominance of Ethereum Layer 2s Post EIP-4844
Prediction #5 anticipates Ethereum Layer 2s capturing the majority of EVM-compatible TVL and trading volume following the EIP-4844 implementation.
6. NFT Activity Reaching New Heights
Prediction #6 envisions a rebound in NFT activity to an all-time high, with Ethereum leading and Bitcoin gaining ground via the Ordinals protocol.
7. Binance’s Spot Trading Position Challenged
Prediction #7 foresees Binance losing its top spot in spot trading, with rivals like OKX, Bybit, Coinbase, and Bitget vying for leadership. (Shame on you VanEck...)
8. Record-High Stablecoin Market Cap
Prediction #8 predicts the stablecoin market cap reaching a new all-time high above $200 billion, with USDC reversing its market share losses.
9. DEXs Achieving Market Share Milestones
Prediction #9 sees DEXs hitting all-time highs in spot trading market share, driven by fast blockchains like Solana.
10. Boost in Blockchain Use for Remittances
Prediction #10 indicates that remittances will significantly boost blockchain usage, with “Bitcoin Staking” on the Lightning Network offering new yield opportunities.
11. A Breakout Blockchain Game Surpassing 1 Million Players
Prediction #11 expects a breakout blockchain game to surpass 1 million daily players, with platforms like Immutable X gaining prominence.
12. Solana’s Rise in the Blockchain Hierarchy
Prediction #12 projects Solana becoming a top 3 blockchain by market cap, TVL, and users, potentially surpassing Chainlink’s TVS.
13. Increased Adoption of DePin Networks
Prediction #13 anticipates higher adoption of DePin networks like Hivemapper and Helium, offering cost-effective alternatives to traditional infrastructures.
14. New Accounting Standards Elevating Corporate Crypto Holdings
Prediction #14 suggests that new accounting standards will encourage more corporate crypto holdings, with Coinbase reporting substantial Layer 2 revenue.
15. Rise of KYC-Compliant DeFi Apps
Prediction #15 predicts KYC-compliant DeFi apps, led by Uniswap, surpassing non-KYC ones in attracting institutional volume and enhancing protocol fees.
Conclusion
VanEck’s 15 predictions offer a diverse and in-depth look into the potential future of the cryptocurrency market, suggesting a year of significant growth, challenges, and innovations. These predictions provide valuable insights for investors and enthusiasts looking to understand the evolving landscape of digital assets.
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