One of the biggest events in cryptocurrencies in 2024 was the approval and commencement of spot Bitcoin 
$89,935 ETFs and spot Ethereum 
$3,202 ETFs. Spot Bitcoin ETFs began trading on January 10, while spot Ethereum ETFs started on July 23. As ETF providers tried to benefit from this situation, a significant development occurred today with the major asset management company VanEck.
VanEck’s Critical ETF Decision
According to information that emerged recently, VanEck made an important decision today. VanEck announced that it plans to close and liquidate its Ethereum futures ETF (EFUT), and the statement was as follows:
The VanEck ETF Trust Board of Trustees approved the liquidation and dissolution of the following fund (“Fund”) on September 5, 2024.
This decision in futures trading appeared independent of the spot Ethereum ETF, which does not mean a complete abandonment of these ETFs. It is thought that the company may have made such a decision due to not receiving certain returns, and whether this decision will expand remains a matter of curiosity.
What is the Price of Ethereum?
When Ethereum emerged on July 30, 2015, perhaps no one thought it would reach this point. Its growth accelerated day by day, and it continues to be the most voluminous altcoin in the cryptocurrency world, with a total volume higher than the combined volume of all other altcoins in the top 10.
In 2021, ETH struggled to reach $5,000 but achieved its ATH just below this level. Subsequently, there was a sharp decline, and the price remained below $2,000 for a long time. During the months when Bitcoin reached its ATH, Ethereum surpassed $4,000 once again.
After this process, ETH experienced another deep decline, and during the period when news first emerged about the approval of the next Spot Ethereum ETF, it had turned from the $4,000 level. Today, the downward trend for ETH continues to be reflected in the charts.
The price of Ethereum fell to $2,271 after a more than 4% drop in the last 24 hours. After this decline, the market cap fell to $273 billion, while the trading volume rose to $18.5 billion after a 40% increase. In the ETH/TRY pair, the price was seen at 77,888 TL.
