Prominent investment manager VanEck has revealed plans to launch an Ethereum Futures exchange-traded fund (ETF). Interestingly, this development comes a few hours following news that the US Securities and Exchange Commission (SEC) was looking to fast-track the approval of some Ether futures ETF applications ahead of a US government shutdown. 

VanEcK Set To Launch Ethereum Futures ETF On CME 

According to a press release on Thursday, VanEck announced the impending launch of an Ethereum futures ETF named the VanEck Ethereum Strategy ETF (EFUT).

As the fund’s nature implies, EFUT does not invest directly in Ether (ETH) or any other cryptocurrency; rather, it gains value from investing in Ether futures contracts. 

To explain, futures contracts are legally binding agreements …