VanEck to Liquidate Ethereum Futures ETF Amid Strategic Review

VanEck has announced its decision to close and liquidate the VanEck Ethereum Strategy ETF (EFUT), following approval from the Board of Trustees on September 5, 2024. The move comes as part of VanEck’s ongoing evaluation of its ETF offerings, considering factors such as performance, liquidity, and investor interest.

Shareholders can sell their EFUT shares on the exchange until the market close on September 16, 2024, after which the ETF will be de-listed. Those holding shares through the liquidation date, expected around September 23, 2024, will receive a cash distribution based on the net asset value of their shares. Additionally, a final distribution of any remaining net income and capital gains will be made prior to liquidation.

For tax purposes, shareholders may recognize a capital gain or loss depending on the liquidation proceeds relative to their share cost basis. VanEck will provide the final tax status of all distributions, including any potential return of capital, with the year-end tax reporting.