Connect with us

News

Valkyrie suspends Ether futures contract until ETF launch

Published

on

Asset management firm Valkyrie has reversed its previous announcement of purchasing Ether Futures for $BTF. According to a filing shared by a Bloomberg ETF Analyst, the firm has stated its decision to wait for an amendment to the Fund’s registration instead of taking a market position in advance.

The initial announcement by Valkyrie, regarding their plan to offer investors exposure to Ether and Bitcoin through a combined Strategy ETF, was scheduled for the first week of October. However, a few days before October arrived, Valkyrie changed its position.

In their filing, the firm explicitly stated that “until the effectiveness of an amendment to the Fund’s registration statement contemplating the addition of Ether Futures contracts to the principal investment strategy of the fund, the Fund won’t unwind any position in Ether futures contracts.”

The Bloomberg ETF Analyst, Eric Balchunas, in response to Valkyrie’s sudden change, added that the firm will also sell the ETH futures they bought “in an effort to jump the line a bit.”

Analyzing the reason for the change, Eric pointed at the SEC. He states that the “SEC must have threatened them to cut it out.” While neither Valkyrie nor the SEC has issued an explanation for the change in less than 24 hours, the actual reasons are unclear.

Eric states that September has an all-time record of 68 ETFs launched. The other 9 ETH futures ETF is “technically” set to launch in October.

In conclusion, while Valkyrie waits to enter the market, some Ether Futures ETFs are ready to hit the market on Monday.

Read also;

Binance Russia buyer denies CZ ownership involvement in the company 

What do you think of this article? Share comments below.

0 0 votes
Article Rating
Advertisement Earnathon.com
Click to comment
0 0 votes
Article Rating
Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

Latest Episode on Inside Blockchain

Crypto News Update

Crypto Street

Advertisement



Trending

ALL Sections

Recent Posts

0
Would love your thoughts, please comment.x
()
x

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

CryptoTvplus - The Leading Blockchain Media Firm will use the information you provide on this form to be in touch with you and to provide updates and marketing.