The U.S. Securities and Exchange Commission (SEC) has approved the addition of ether (ETH) futures to Valkyrie’s Bitcoin Strategy ETF (BTF), but Valkyrie stated on Friday morning that it will not make any purchases until that clearance takes effect.The asset manager also stated that it would cancel any ether futures purchases it had already made in an SEC Form 497 filing.
After yesterday’s announcement that it had started adding ether futures exposure to the BTF after receiving SEC approval, the firm quickly reversed course.
The SEC won’t let anyone launch independently like BITO [ProShares Bitcoin Strategy ETF] in 2021, according to Bloomberg ETF analyst Eric Balchunas, who stated in a tweet that the unwinding of ether futures purchases from Valkyrie is an example of this.Despite Valkyrie’s efforts, it appears like a number of ether futures ETFs will start trading in the United States on Monday. ProShares, Bitwise, and VanEck are just a few of the companies who confirmed this in SEC filings on Friday.