Valkyrie suspends buying of Ethereum futures

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Valkyrie suspends buying of Ethereum futures

Valkyrie has announced that it will discontinue the buying of Ethereum futures contracts for its Bitcoin Strategy ETF until an amendment to the fund's registration statement takes effect. Valkyrie confirmed the news in a press release today.

This announcement came on the heels of Valkyrie's initial endeavor into the Ethereum futures market, which has now been put on hold source from the SEC's announcement.

Valkyrie planned to be one of the first to provide a US based ETF combining Bitcoin and Ethereum futures. CryptoSlate reported that this sudden pivot in strategy comes amidst a period of intense activity and uncertainty for crypto ETFs.

The SEC has also said that it is preparing to approve an Ethereum futures ETF as early as the first week of October.

The SEC has also begun the preparations for the future of several spot Bitcoin ETFs. The commission is currently looking for public opinions on various aspects of ETFs, such as their vulnerability to fraud and manipulation, the inherent opposition of Bitcoin to market manipulation, and the potential impact of a surveillance-sharing agreement with Coinbase in detecting and preventing fraud.

These recent developments reflect the evolving and unpredictable nature of the cryptocurrency ETF landscape. The fate of several cryptocurrency ETFs remains in the balance, as regulatory bodies like the SEC continue to navigate this intricate industry. Will the potential to approve an Ethereum futures ETF set a precedent for future offerings? The outcome of the SEC's case surrounding spot Bitcoin ETFs could significantly affect the future of cryptocurrency investments.