Topics

Posted 9/29/2023, 7:34:00 PM

Valkyrie Puts Brakes on Ethereum ETF After Winning Regulatory Approval

Valkyrie Funds is halting purchases of ethereum for its Bitcoin and Ether Strategy ETF (BTF).
This is a setback for Valkyrie's plan to launch the first ETF with exposure to ethereum.
Valkyrie will unwind any existing ethereum futures positions in the fund.
The move comes after Valkyrie announced it had received approval to add ethereum futures to the BTF ETF.
Other firms like VanEck, ProShares and Invesco have also filed for ethereum ETFs expected to launch soon.

reuters.com

Relevant topic timeline:

9/6/2023

Cathy Wood's ARK Invest Files for First Spot Ether ETF

Asset managers ARK Invest and 21Shares have applied for regulatory approval for an exchange-traded fund (ETF) that would directly hold ether (ETH), the second largest cryptocurrency, with custody provided by Coinbase Custody Trust Company.

9/28/2023

Valkyrie Launches First Ether Futures ETF Amid Crypto Growth

Valkyrie Investments has become the first asset manager to win approval from the Securities and Exchange Commission to offer an exchange-traded fund (ETF) featuring Ethereum futures, paving the way for retail investors to bet on the future price of the cryptocurrency.

9/29/2023

Ether Prices Jump on Plans for Upcoming Futures ETFs

Short sellers of ether (ETH) faced significant liquidations as major financial firms planned to launch ether futures ETFs in the U.S., leading to a 5% price increase and a surge in trading volumes.

9/29/2023

Circle Pushes Back on SEC Stablecoin Suit as Exchanges See Bitcoin Whale Inflows

Stablecoin issuer Circle argues that stablecoins tied to other assets shouldn't be subject to financial trading laws, intervening in the SEC's case against Binance. Valkyrie begins buying ETH futures contracts, becoming the first U.S. ETF to offer exposure to Ether and Bitcoin futures under one wrapper. Coinbase receives regulatory approval in Bermuda to list perpetual futures for users outside the U.S., following its acquisition of a license to operate a spot exchange in April. Addresses holding at least 0.1% of bitcoin's supply have seen strong net inflows throughout Q3, indicating growing interest from organic buyers.

9/29/2023

Valkyrie Pauses Ether Futures Buys Ahead of Planned Bitcoin, Ethereum ETF

Asset management firm Valkyrie has decided to wait for approval from the SEC before purchasing Ether (ETH) futures for its ETF, prompting speculation that the SEC might have pressured the company to halt purchases until the ETF is officially approved.

9/30/2023

Bitwise Launches Ethereum ETFs Amid Growing Institutional Interest in Crypto

Bitwise Asset Management has announced the launch of two Ether futures ETFs on October 2, allowing investors to access Chicago Mercantile Exchange Ether futures.

9/30/2023

Ether ETFs Launch Soon as Crypto Faces Legal Woes

Summary: Valkyrie will be offering exposure to Ether futures through its Bitcoin Strategy ETF, becoming one of the first firms to do so amid pending applications with the US Securities and Exchange Commission; Sam Bankman-Fried, former CEO of FTX, is set to stand trial over fraud charges beginning on October 4th and lasting until November 9th and, meanwhile, Su Zhu, co-founder of Three Arrows Capital (3AC), has been arrested in Singapore as part of an ongoing investigation to retrieve funds for 3AC's creditors.

10/2/2023

VanEck Launches New Ethereum Futures ETF With Tax Benefits and Developer Donations

Investment management firm VanEck is launching its Ethereum Strategy ETF, which will invest in Ether futures contracts and has no direct exposure to ETH, with trading set to begin on October 2nd on the Chicago Board Options Exchange (CBOE).

10/2/2023

Volatility Shares Postpones Launch of Ether Futures ETF Amid Market Changes, Still Plans Future Debut

Volatility Shares has canceled its plans to launch an Ether (ETH) futures exchange-traded fund (ETF) due to market changes, but plans to launch at a later date are still undetermined.

Topics

Posted 9/29/2023, 7:34:00 PM

Valkyrie Puts Brakes on Ethereum ETF After Winning Regulatory Approval

Valkyrie Funds is halting purchases of ethereum for its Bitcoin and Ether Strategy ETF (BTF).
This is a setback for Valkyrie's plan to launch the first ETF with exposure to ethereum.
Valkyrie will unwind any existing ethereum futures positions in the fund.
The move comes after Valkyrie announced it had received approval to add ethereum futures to the BTF ETF.
Other firms like VanEck, ProShares and Invesco have also filed for ethereum ETFs expected to launch soon.

reuters.com

Relevant topic timeline:

9/6/2023

Cathy Wood's ARK Invest Files for First Spot Ether ETF

9/28/2023

Valkyrie Launches First Ether Futures ETF Amid Crypto Growth

9/29/2023

Ether Prices Jump on Plans for Upcoming Futures ETFs

Short sellers of ether (ETH) faced significant liquidations as major financial firms planned to launch ether futures ETFs in the U.S., leading to a 5% price increase and a surge in trading volumes.

9/29/2023

Circle Pushes Back on SEC Stablecoin Suit as Exchanges See Bitcoin Whale Inflows

9/29/2023

Valkyrie Pauses Ether Futures Buys Ahead of Planned Bitcoin, Ethereum ETF

9/30/2023

Bitwise Launches Ethereum ETFs Amid Growing Institutional Interest in Crypto

Bitwise Asset Management has announced the launch of two Ether futures ETFs on October 2, allowing investors to access Chicago Mercantile Exchange Ether futures.

9/30/2023

Ether ETFs Launch Soon as Crypto Faces Legal Woes

10/2/2023

VanEck Launches New Ethereum Futures ETF With Tax Benefits and Developer Donations

10/2/2023

Volatility Shares Postpones Launch of Ether Futures ETF Amid Market Changes, Still Plans Future Debut

Volatility Shares has canceled its plans to launch an Ether (ETH) futures exchange-traded fund (ETF) due to market changes, but plans to launch at a later date are still undetermined.