FRANKFURT, Germany (July 23, 2024) – MarketVector IndexesTM (“MarketVector”) announces the licensing of the MarketVectorTM Ethereum Benchmark Rate (EBR) to VanEck. The firm today launched the VanEck Ethereum ETF (ETHV), a first-of-its-kind ETF that provides exposure to spot Ethereum in the US.

MarketVectorTM Ethereum Benchmark Rate (EBR) is a robust tool for understanding the market value of Ethereum. The index methodology is designed with a focus on accuracy, reliability, and resilience against market manipulation. MarketVector has been providing quality information to digital assets investors since 2017, and its indexes help the investment community make informed decisions, on this dynamic asset class.

“Providing exposure to ether through an ETF allows financial advisors and institutional investors to hold this unique asset with the security of qualified custodians, and benefit from the pricing and liquidity advantages characteristic of ETFs. Despite ether trading 24 hours a day, like with any ETF, a precise end-of-day price is crucial,” said Kyle DaCruz, Director of Digital Asset Products at VanEck Associates Corp. “We are excited to use MarketVector’s EBR as the benchmark for the VanEck Ethereum ETF. A key attribute of MarketVector’s cryptocurrency indexes is their regulation under Germany’s BaFin and the European BMR framework,” he added.

“We are honored to partner with VanEck to support the launch of their innovative and pioneering Spot Ethereum ETF, ETHV,” said Steven Schoenfeld, CEO of MarketVector. “Benchmarked to the MarketVectorTM Ethereum Benchmark Rate, we are confident that investors will gain efficient exposure to Ethereum. With more than seven years of experience in developing and managing Digital Asset Indexes, MarketVector is uniquely qualified to benchmark the dynamic and growing field of Crypto assets,” he continued.

EBR calculates the volume-weighted median price average from 20 three-minute intervals, based on trades from the top five exchanges as ranked by CCData's Exchange Benchmark. This method offers a more accurate and manipulation-resistant measure of Ethereum's price, enhancing the trust and transparency for investors. Additionally, the index exclusively includes ETH-USD trades, which further bolsters its reliability.

EBR’s robustness and accuracy are essential for maintaining integrity and trust in the dynamic cryptocurrency market. Its design and methodology ensure that it provides highly accurate price signals, keeping pricing anomalies in check, much like the precision of a Swiss watch in the world of timekeeping.

For more information on the index, visit MarketVector’s index page. For more information about the ETF, visit VanEck’s index page.

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