Investment management firm VanEck has raised its marketing efforts for its upcoming Ether exchange-traded fund (ETF) with the release of two “Enter the Ether”-themed television commercials. The Ethereum Strategy ETF (EFUT) is coming in the near future.

The Coinbase International Exchange, a non-US exchange launched by the Nasdaq-listed Coinbase in May 2023, has secured regulatory approval from Bermuda’s financial regulator to allow eligible non-US retail customers to trade perpetual futures contracts.

Leading cryptocurrency exchange Binance has revealed that payments solutions provider Paysafe has “unilaterally” stopped processing euro deposits for its users, following an announcement that it would drop support for the exchange.

Top stories in the Crypto Roundup today:

• VanEck Prepares Ethereum Futures ETF Launch
• Coinbase to Offer Perpetual Futures Contracts on Non-US Exchange
• Binance Loses EUR Support from Paysafe
• Crypto Market Movers – MKR, LOOM, KNC

VanEck Prepares Ethereum Futures ETF Launch

Investment management firm VanEck has raised its marketing efforts for its upcoming Ether exchange-traded fund (ETF) with the release of two “Enter the Ether”-themed television commercials. The Ethereum Strategy ETF (EFUT) is coming in the near future.

The promotional gambit comes as VanEck published a press statement about EFUT that indicated the fund will be listed on the Chicago Board Options Exchange and be managed by Greg Krenzer, the head of active trading at VanEck.

EFUT is set to invest in standardized, cash-settled ETH futures contracts trading on exchanges registered with the Commodity Futures Trading Commission (CFTC). The fund will join VanEck’s other crypto offering, the VanEck Bitcoin Strategy ETF (XBTF).

The television advertisements, according to Bloomberg ETF analysts Eric Balchunas and James Seyffart, could mean that the Ether futures ETFs are coming “sooner than expected.”

Per Seyffart, the new Ethereum futures ETF could launch as soon as Monday, despite a recent document suggesting a 60-day lead-time before the fund becomes operational. The analysts noted their understanding is “that the SEC is accelerating approvals for these things.”

Coinbase to Offer Perpetual Futures Contracts on Non-US Exchange

The Coinbase International Exchange, a non-US exchange launched by the Nasdaq-listed Coinbase in May 2023, has secured regulatory approval from Bermuda’s financial regulator to allow eligible non-US retail customers to trade perpetual futures contracts.

According to a recent announcement Coinbase’s non-US exchange, in the coming weeks the firm will start offering eligible customers access to perpetual futures contracts on Coinbase Advanced.

The company has been pursuing global expansion and revealed its international exchange in May this year, offering BTC and ETH perpetual futures contracts. Perpetual futures contracts are a type of derivative with no expiry date.

The firm noted that it’s dedicated to “partnering with high-bar global regulators to build a crypto regulatory framework that allows crypto technology to continually drive innovation.”

Binance Loses EUR Support from Paysafe

Leading cryptocurrency exchange Binance has revealed that payments solutions provider Paysafe has “unilaterally” stopped processing euro deposits for its users, following an announcement that it would drop support for the exchange.

The move has affected Binance’s services relying on Paysafe, including spot trading and auto-investment. The exchange’s Paysafe users are now no longer able to buy or sell digital assets with euros on the platform, and the exchange has canceled all open orders on EUR spot trading pairs related to Paysafe.

Binance has urged its customers to either trade their EUR for USDT by October 31, or withdraw the funds to their bank accounts. The exchange has reportedly known for months that Paysafe would stop EUR deposits and withdrawals via bank transfer for Binance users starting Sept. 25.

Paysafe started distancing itself from the exchange back in May of this year, forcing Binance to halt British pound (GBP) deposits and withdrawals until it found a new banking partner. The exchange has said it’s “working to integrate new fiat channels onto Binance soon.”

Crypto Market Movers – MKR, LOOM, KNC

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Maker (MKR) - MakerDAO is an open-source project on the Ethereum blockchain and a Decentralized Autonomous Organization created in 2014. The project is managed by people around the world who hold its governance token, MKR.

Loom Network (LOOM) - Loom Network is a blockchain-based platform designed to allow developers to create and deploy decentralized applications (dApps). It was launched in March 2018 as an open-source project that provides developers with the tools they need to build scalable blockchain applications that can be easily integrated into existing systems.

Kyber Network Crystal (KNC) - Kyber Network Crystal v2 (KNC) is a decentralized cryptocurrency exchange protocol built on the Ethereum blockchain. It allows users to exchange a wide range of digital assets instantly and securely without the need for an intermediary or central authority.

State of the Crypto by Top Tier Exchange Volume

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