Ethereum

Bitcoin

James

VanEck, investment manager, is intensifying its promotional activities for its imminent Ether (ETH $1,656) futures exchange-traded fund (ETF), anticipated by some experts to be launched as early as October 2. The firm has recently unveiled two “Enter the Ether”-themed TV commercials, indicating that its Ethereum Strategy ETF, labeled EFUT, is on the horizon. 
On September 28, the commercials were released concurrently with a press statement from VanEck about the forthcoming EFUT. The statement disclosed that the ETF would be listed on the Chicago Board Options Exchange and overseen by Greg Krenzer, the head of active trading at VanEck. 
Analysts Eric Balchunas and James Seyffart from Bloomberg ETF speculate that the commercials might signify that the launch of Ether futures ETFs is approaching faster than anticipated. Despite documents from September 29 suggesting a 60-day waiting period before the ETF takes effect, Seyffart anticipates a launch on Monday. He attributes this to the Securities and Exchange Commission (SEC) possibly hastening approvals for such financial products. 
The promotional materials from VanEck include a 15-second video with actors maintaining a deadpan expression, accompanied by unusual, alien-like background music. The message “Ethereum. Now in an ETF form. Coming soon” is conveyed, followed by another actor stating, “Oh, and hodl or fork off,” before concluding with the “Enter the Ether” message. 
A second, more conventional 30-second advertisement implies an impending “shift” and suggests that Ethereum’s gravitational pull “will draw everyone in.” Balchunas anticipates intensified marketing endeavors from other ETF issuers, especially when spot Bitcoin (BTC $26,960) ETFs receive approval. 
Moreover, Valkyrie, a financial services firm, has stated that it plans to offer exposure to Ether through its existing Bitcoin Strategy ETF. This move positions Valkyrie as one of the pioneering firms to provide such exposure amidst numerous pending applications with the SEC. 
Seyffart, on September 28, hinted at the possibility of the SEC approving several Ethereum futures ETFs in the upcoming week, potentially due to an imminent U.S. government shutdown. Currently, nine issuers have 15 Ether futures ETFs awaiting launch. 
Additionally, the market is bracing for a marketing battle as ETFs gain approval, with multiple issuers launching similar products on the same day. This situation is unprecedented and is expected to reshape the competitive landscape of ETF offerings.

VanEck unveils Ethereum ETF ads, Monday launch anticipated

Cryptopolitan_News

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