Inside a surge in news about new ETH ETF's

Inside a surge in news about new ETH ETF's

With all eyes focused on BTC spot ETF, news surge about developments in ETH segment. They include Grayscales idea to transform its trust into spot ETF and VanEck launch of ETH futures ETF.

Grayscale: 

Grayscale files a plan to transition its $ETH trust into an ETF. They characterize this decision as "the final step of the four stages cycle" for digital asset products. They claim that this transition would bring Ethereum even more into US legal and institutional system. Grayscale's trust is the biggest channel for traditional investors to invest in crypto via usual methods. As for now, trust manages $17.4B in assets with 693K shares. 

VanEck: 

VanEck launches the first Futures $ETH ETF called EFUT. EFUT will invest in standartized, cash-settled ETH futures contracts traded on CFTC. Currently, they only plan to invest in futures listed on Chicago Mercantile Exchange.  It also added that 10% of funds returns would be directed to Protocol Guild.