- Valkyrie Ether futures will suspend all purchases until SEC approval.
- The company’s decision to suspend purchases of Ethereum futures is consistent with its commitment to regulatory compliance.
On September 29, the asset management company officially issued an announcement about suspending the purchase of Valkyrie Ether futures.
Valkyrie Ether futures buying suspended pending SEC approval
The suspension will remain in effect pending approval from the U.S. Securities and Exchange Commission (SEC). In addition to the suspension, the company will also withdraw all previously purchased Valkyrie ether futures.
The decision to cease purchasing Ethereum futures is directly related to the approval status of the amendment to the fund’s registration statement. Valkyrie’s Bitcoin Strategy ETF (BTF) has chosen not to purchase Ethereum (ETH) futures contracts until the SEC approves adding these contracts to the fund’s primary investment strategy.
Previously, the SEC had approved Valkyrie to convert its existing Bitcoin futures ETF into a Bitcoin and Ethereum futures ETF. Therefore, the new fund will be renamed “Valkyrie Bitcoin and Ethereum Strategy ETF”, scheduled to take effect on October 3, and the code will remain BTF.
Valkyrie’s ETF Transformation and Ethereum Futures Strategy
In light of these developments, Valkyrie has committed to canceling any previously initiated Ethereum futures purchases. This rapid change in strategy follows the company’s recent announcement that it has begun incorporating Ethereum futures exposure into BTF following SEC approval.
Valkyrie originally filed a move to change its Bitcoin futures ETF investment strategy with the U.S. Securities and Exchange Commission in August. The filing aims to enable the fund to invest in Ethereum futures, marking a major shift in how it invests.
The suspension of Valkyrie’s Ethereum futures purchases highlights the company’s commitment to regulatory compliance and the ever-changing cryptocurrency investment landscape.
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