Could bullish Ethereum news related to the launch of an ETH futures ETF be the catalyst that triggers a massive breakout of a nearly 16-month long ascending triangle pattern?
If the pattern is valid, the target is roughly $4,000 per ETH and a revisit to former all-time highs from the last bull market.
VanEck Announces ETH Futures ETF
Global asset manager VanEck, known best for its ETFs and Mutual Funds, today revealed the upcoming launch of the VanEck Ethereum Strategy ETF (ETUF).
ETUF will be “an actively managed ETF designed to seek capital appreciation by investing in Ether (ETH) futures contracts.”
Rather than investing in spot ETH, the Fund will trade Chicago Mercantile Exchange (CME) ETH futures, and will be managed by the firm’s Head of Active Trading, Greg Krenzer.
ETUF will trade on CBOE alongside VanEck’s Bitcoin Strategy ETF (XBTF). And although its inception of November 15, 2021 marked the end of the bull market in crypto, the introduction of Ethereum futures has th

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