Asset-management firm VanEck announced the launch of the Ethereum Strategy ETF, according to a press release.
The actively managed ETF will be based on cash-settled ether futures, regulated by the CFTC. Currently such instruments are listed only on the Chicago Mercantile Exchange (CME).
The fund will be listed on CBOE under ticker EFUT, but the exact date is not yet known.
The new instrument is similar to the company’s other product — the Bitcoin Strategy ETF (XBTF), launched in November 2021.
In June, VanEck analysts predicted that Ethereum would rise to $11,800 by 2030.
Earlier, the U.S. Securities and Exchange Commission (SEC) delayed decisions on requests by 21Shares and VanEck to launch a spot Ethereum ETF.
Senior Bloomberg market analyst Erik Balchunas noted that ether-based futures instruments with a 90% probability are expected to appear in early October.
Analysts at K33 Research expressed confidence that the appearance of an Ethereum-based ETF could push the ETH/BTC rate higher.