• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
Ethereum

VanEck Shuts Down Ethereum Futures ETF Amidst Struggling Market Conditions

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On Friday, asset management firm and exchange-traded fund (ETF) issuer VanEck announced its decision to liquidate its Ethereum Futures ETF (EFUT). According to the official release, shareholders will have the opportunity to sell their shares on the fund’s listing exchange until market close on September 16, 2024. 

After that date, the shares will no longer be traded on the exchange and will be officially delisted. Investors are advised that if they sell their shares prior to this date, they may incur transaction fees from their broker-dealers.

What VanEck’s ETF Liquidation Means For Investors

According to the notice, those who continue to hold shares on the liquidation date, which is expected to be approximately September 23, 2024, will receive a cash distribution equal to the net asset value of their shares.

This means that shareholders will receive a cash amount based on the value of their holdings at the time of liquidation, which will be credited to the cash portion of their brokerage accounts.

Additionally, shareholders may receive a final distribution of net income and capital gains earned by the Fund that have not been previously distributed prior to the liquidation. This could provide investors with an extra financial benefit as they wind down their investment in the ETF.

Related Reading: Crypto Misuse By Hamas? US Treasury Letter Urges Increased Vigilance – Details

VanEck also noted that the final tax status of all distributions made by the Fund, including the liquidating distribution, will be communicated to shareholders through the year-end tax reporting. This report will clarify any portions of the distribution that may be treated as a return of capital, which could affect the shareholder’s basis in their shares.

Earlier this year, the asset manager also closed its Bitcoin futures ETF due to the approval of its Bitcoin spot ETF in January this year. 

However, the announcement made no mention of its recently launched spot Ethereum ETF (ETHV), which is still on the asset manager’s list of offerings despite experiencing significant outflows after it began trading in July. 

VanEck Leads Spot Ethereum ETF Outflows 

Both the Ethereum and Bitcoin spot ETF markets have seen significant outflows over the past month, further impacting the ongoing price correction seen in the prices of the two largest cryptocurrencies on the market.

The Ethereum ETF market has seen outflows totaling approximately $562 million since its inception on August 19, led by VanEck’s outflows of $47 million over the same period, according to Farside data. 

Related Reading: SHIB News: Shiba Inu Team Announces Two Major Milestones

This has contributed to a nearly 7% drop in ETH’s price, which is currently trading at $2,240. Over the fourteen-day period, ETH is also down nearly 20%. And over the past month, accounts for 5.6% for the second largest cryptocurrency on the market.

Ethereum
The daily chart shows ETH’s price trending downwards. Source: ETHUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Ethereum news

Ethereum In Revolt: Polygon’s Nailwal Turns On The Foundation

12 minutes ago
Spot Bitcoin ETFs

Is The Bitcoin Supercycle Still In Play? Wave 3 Tells A Story Of A Surge

4 hours ago
ethereum

Ethereum Whale BitMine Buys 203,800 ETH – Now Holds 2.7% Of Circulating Supply

8 hours ago
Ethereum

Ethereum In, Bitcoin Out: BlackRock Rebalancing Its Digital Asset Portfolio In Major Crypto Shift

1 day ago
Ethereum Network Sees Nearly $1B in USDT Mints – Fresh Liquidity Amid Market Downturn

Ethereum Network Sees Nearly $1B in USDT Mints – Fresh Liquidity Amid Market Downturn

3 days ago
Ethereum

Ethereum Institutional Accumulation Frenzy: Bitmine Expands Holdings With Another Massive Strategic ETH Buy

3 days ago

Premium Sponsors

Press Releases

  • KCEX стартира бонус за търговия от...

    47 minutes ago
  • โปรโมชั่นโบนัสสำหรับผู้ใช้ใหม่จาก KCEX แจกสูงสุด 21,000 USDT

    KCEX จัดหนัก!...

    21 hours ago
  • WEEX стартира кампания с до 50%...

    23 hours ago
  • FleetMining Turns BTC, XRP, and ETH into Daily Income

    FleetMining Turns BTC, XRP, and ETH into Daily Income with...

    1 day ago
  • CryptoGDEX Launches Global Petition to Revolutionize Wealth Distribution

    CryptoGDEX Launches Global Petition to Revolutionize Wealth...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.