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cointelegraph 2023-09-29 02:47:39

Enter the Ether: VanEck releases two ETF ads ahead of possible Monday launch

Once Ethereum futures ETF and spot Bitcoin ETF applications get approved, there will be a marketing war like we’ve never seen says, Bloomberg ETF analyst Eric Balchunas. Investment manager VanEck has fired up the marketing engine for its “upcoming” Ether (ETH) futures exchange-traded fund (ETF), which some analysts expect could be launched as early as Oct. 2.On Sept. 28, VanEck released the two “Enter the Ether”-themed TV commercials, revealing that its Ethereum Strategy ETF — tickered EFUT — is “coming soon.”AI, AI, Uh Oh! Follow for updates on how to Enter the Ether.— VanEck (@vaneck_us) September 28, 2023 The commercials came on the same day VanEck published a press statement about its upcoming EFUT, stating it will be listed on the Chicago Board Options Exchange and be managed by Greg Krenzer, head of active trading at VanEck.Bloomberg ETF analysts Eric Balchunas and James Seyffart believe the TV ads could hint that Ether futures ETFs are “happening sooner than expected.” Seyffart expects VanEck’s new ETF to launch on Monday despite a Sept. 29 document stating it won’t take effect for another 60 days. “Our understanding is that the SEC is accelerating approvals for these things,” he said.Quick correction: they actually won't be effective until Friday. Still, same result: Monday launch.— Eric Balchunas (@EricBalchunas) September 28, 2023 Enter the EtherThe first of VanEck’s “Enter the Ether” advertisements is a rather short and quirky 15-second video featuring five actors looking at the camera with a deadpan expression and strange alien-sounding music in the background.“Ethereum. Now in an ETF form. Coming soon,” says an actor.“Oh, and hodl or fork off,” says another actor, before the “Enter the Ether” message appears and the ad ends.The second ad appears more straightforward, with a 30-second spot suggesting that a “shift” is coming soon and that Ethereum’s gravitational pull “will draw everyone in.”When you’re ready, ENTER THE ETHER. The VanEck Ethereum Strategy ETF ($EFUT) is coming soon. Read our press release:— VanEck (@vaneck_us) September 28, 2023 Balchunas expects more marketing efforts from ETF issuers as ETFs get approved, particularly when spot Bitcoin (BTC) ETFs get the greenlight.“It will be a marketing war like we’ve never seen since they all do same thing and launch on same day. Unprecedented.”Related: SEC delays spot Bitcoin ETF decision for BlackRock, Invesco and BitwiseMeanwhile, financial services firm Valkyrie told Cointelegraph that it will also soon begin offering exposure to Ether through its existing Bitcoin Strategy ETF, making it one of the first firms to do so amid several pending applications with the United States Securities and Exchange Commission.On Sept. 28, Seyffart said in an X post that it was “looking like the SEC is gonna let a bunch of Ethereum futures ETFs go next week potentially,” spurred by a potentially imminent U.S. government shutdown.There are 15 Ether futures ETFs from nine issuers vying to launch.Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in

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