Key Points:
- VanEck’s “Enter the Ether” ads signal the imminent launch of their Ethereum Strategy ETF, EFUT.
- Analysts anticipate a marketing showdown as Ethereum and Bitcoin ETFs gain approval.
- Valkyrie also plans to offer exposure to Ether through their Bitcoin Strategy ETF.
As Ethereum futures ETF and spot Bitcoin ETF applications move closer to approval, a fierce marketing battle appears imminent, according to Bloomberg ETF analyst Eric Balchunas.
Investment management company VanEck has kicked off its marketing campaign for its upcoming Ethereum futures exchange-traded fund (ETF), which some analysts speculate could debut as early as October 2.
On September 28, VanEck unveiled two television commercials under the theme “Enter the Ether,” signaling the impending launch of its Ethereum Strategy ETF, with the ticker symbol EFUT.
AI, AI, Uh Oh! Follow for updates on how to Enter the Ether. pic.twitter.com/wM69nVtbWC
— VanEck (@vaneck_us) September 28, 2023
Simultaneously, VanEck issued a press release detailing its forthcoming EFUT, confirming that it will be listed on the Chicago Board Options Exchange and managed by Greg Krezner, VanEck’s Head of Active Trading.
Bloomberg ETF analysts Eric Balchunas and James Seyffart suggest that these TV ads could imply a quicker arrival of Ethereum futures ETFs than initially anticipated.
Seyffart anticipates VanEck’s new ETF to hit the market on Monday, despite a document from September 29 stating that it would not take effect for another 60 days. He remarked, “Our understanding is that the SEC is expediting approvals for these products.”
VanEck is officially effective! This means launch is imminent (likely Monday morning). Also, first time we’ve seen a fee in any these as well, which will be 66bps. This could matter as ProShares (who we hear is also planning for Monday) is likely to priced at 95bps like $BITO. https://t.co/tUPTgSmToe
— Eric Balchunas (@EricBalchunas) September 28, 2023
“Enter the Ether”
VanEck’s first “Enter the Ether” ad is a short, quirky 15-second video featuring five actors staring at the camera with deadpan expressions, accompanied by unusual, alien-sounding music in the background.
One actor states, “Ethereum. Soon in ETF form.”
Another actor adds, “Oh, and HODL or Fork Off,” before the “Enter the Ether” message appears, concluding the ad.
The second ad takes a more direct approach, featuring a 30-second spot that hints at an impending “shift” and suggests that Ethereum’s gravitational pull “will draw everyone in.”
When you’re ready, ENTER THE ETHER. The VanEck Ethereum Strategy ETF ($EFUT) is coming soon. Read our press release: https://t.co/4QPOVd5nB2 pic.twitter.com/vSF3HzMuvC
— VanEck (@vaneck_us) September 28, 2023
Balchunas anticipates increased marketing efforts from ETF issuers as ETFs gain approval, especially when spot Bitcoin ETFs receive the green light. He predicts, “It will be an unprecedented marketing war as they all do the same thing and launch on the same day.”
Meanwhile, financial services firm Valkyrie informed Cointelegraph that it plans to offer exposure to Ether through its existing Bitcoin Strategy ETF soon, making it one of the early adopters amid several pending applications with the U.S. Securities and Exchange Commission.
On September 28, Seyffart suggested in a post that the SEC may allow several Ethereum futures ETFs to launch next week, potentially triggered by an impending U.S. government shutdown.
Currently, there are 15 Ether futures ETFs from nine different issuers vying for approval.
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