Valkyrie Pauses Ether Futures Purchases Pending SEC ETF Approval
The asset management company recently announced its foray into acquiring contracts for ether futures. However, a shift in stance came on Friday morning when Valkyrie communicated its decision to hold off on procuring ether (ETH) futures until receiving official approval from the U.S. Securities and Exchange Commission (SEC) for their inclusion in the Bitcoin Strategy ETF (BTF).
The about-face followed the company's prior statement to various sources, including Bitsday, where it confirmed its initiation of integrating ether futures into the BTF after securing the SEC's backing.
Eric Balchunas, an ETF analyst at Bloomberg, took to Twitter to interpret Valkyrie's shift in ether futures procurement as a testament to the SEC's cautious approach, avoiding an undue influence through its policies. He underscored the SEC's efforts to hinder independent launches, as seen in the case of BITO (ProShares Bitcoin Strategy ETF) in 2021.
Despite Valkyrie's decision, it appears that several ether futures ETFs are set to kick off trading activities in the U.S. on Monday. This development has been confirmed by firms like ProShares, Bitwise, and VanEck, as stated in their respective SEC filings on Friday morning.
At the time of writing, Valkyrie had not yet responded to Bitsday's request for comment.
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