In an unexpected turnaround, Valkyrie has announced that it will cease the purchase of Ethereum (ETH) futures contracts for its Bitcoin Strategy ETF until an amendment to the fund’s registration statement takes effect.
This announcement arrived on the heels of Valkyrie’s initial endeavor into the Ethereum futures market, which has now been put on hold source from SEC’s announcement.
Previously, Valkyrie had planned to be one of the first to provide a U.S based ETF combining Bitcoin and Ethereum futures. This sudden pivot in strategy comes amidst a period of intense activity and uncertainty for crypto ETFs as reported by CryptoSlate.
In addition to Valkyrie’s abrupt decision, the SEC is reportedly preparing to possibly approve an Ethereum (ETH) futures exchange-traded fund (ETF) as early as the first week of October, according to Bloomberg analysts.
ETF approval race
The SEC has also begun proceedings to determine the future of several spot Bitcoin ETFs. The commission is curr
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