News

Valkyrie Ether Futures Now Suspended Until SEC Approval

Key Points:

  • Valkyrie Ether futures will be suspended for all purchases until SEC approval.
  • The company’s decision to suspend Ethereum futures purchases aligns with its commitment to regulatory compliance.
On September 29, the asset management company made an official announcement regarding the suspension of Valkyrie Ether futures purchases.
Valkyrie Ether Futures Now Suspended Until SEC Approval 2

Valkyrie Ether Futures Purchases Suspended Pending SEC Approval

This suspension will remain in effect until they receive approval from the U.S. Securities and Exchange Commission (SEC). In addition to the suspension, the company will also be withdrawing all previously purchased Valkyrie Ether futures.

The decision to halt Ethereum futures purchases is directly tied to the approval status of an amendment to the fund’s registration statement. Valkyrie’s Bitcoin Strategy ETF (BTF) has opted to refrain from acquiring Ether (ETH) futures contracts until the SEC’s approval for adding these contracts to the fund’s principal investment strategy becomes effective.

Earlier, the SEC had granted Valkyrie approval to transform its existing Bitcoin futures ETF into a Bitcoin and Ethereum futures ETF. Consequently, this new fund will undergo a name change to “Valkyrie Bitcoin and Ethereum Strategy ETF,” and it is scheduled to take effect on October 3rd, maintaining the code BTF.

Valkyrie’s ETF Transformation and Ether Futures Strategy

In light of these developments, Valkyrie has committed to unwinding any Ethereum futures purchases that were previously initiated. This swift change in strategy follows the firm’s recent announcement that it had commenced the inclusion of Ether futures exposure within the BTF, following SEC approval.

Valkyrie’s initial move to alter its Bitcoin futures ETF’s investment strategy came in August, when they filed with the U.S. Securities and Exchange Commission. This filing aimed to enable the fund to invest in ether futures, marking a significant shift in their investment approach.

The suspension of Valkyrie Ethereum futures purchases underscores the company’s commitment to regulatory compliance and the evolving landscape of cryptocurrency investments.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Terra Shuttle Bridge Has Now Been Disabled

Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…

25 mins ago

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

1 hour ago

BlockDAG X1 App Receives Huge Response From Community, Hiting Over 200K Users! Latest on Bitcoin & Chainlink Prices

Want to learn about Bitcoin and Chainlink's prices? See why BlockDAG with its X1 app…

1 hour ago

Bitcoin Mining Difficulty Tops 100T Hash for the First Time

New ATH for Bitcoin’s average hashrate, combined with Bitcoin mining difficulty surpassing 100 trillion hashes,…

2 hours ago

US Presidential Election Drives Bitcoin Price Back to $70,000

Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.

3 hours ago

Xinteria Surpasses $1 Billion in Trading Volume, Unveils Innovative Market-Making Technology

NY, United States of America, 5th November 2024, Chainwire

3 hours ago

This website uses cookies.