Senior Analyst Valkyrie Stops Buying Ethereum Futures Contracts
According to Bloomberg’s Eric Balchunas, senior European Training Foundation analyst Valkyrie has announced that they will no longer purchase Ethereum futures contracts. Balchunas speculates that this decision may have been influenced by the SEC.
Valkyrie Bitcoin Strategy ETF Adds Exposure to Ethereum Futures
On September 28, it was reported that the Valkyrie Bitcoin Strategy exchange-traded fund (ETF) is adding exposure to Ethereum futures. This ETF is the first in the US to provide holders with exposure to both Ethereum and Bitcoin futures contracts in one package.
Competition in the Space
A senior European Training Foundation analyst mentioned that there is competition in this space. However, Valkyrie has announced that they will not make any more purchases and will instead sell the futures contracts they bought to “jump the line.”
Updates on ETF Futures
Bloomberg Intelligence analyst James Seyphart has provided updates on ETF futures. Bitwise has applied for a pure Ethereum ETF with a cost of 0.85% and an expected launch date of Monday. ProShares ETF has also announced that they will file an updated version for Bitcoin and Ethereum ETFs with equal weight, set to launch next week.
SEC Delays Ruling on WisdomTreeFunds Bitcoin ETF
The SEC has delayed ruling on the WisdomTreeFunds Bitcoin ETF, leaving only VanEck and Fidelity awaiting approval.
ProShares ETF Announces Three Ethereum ETFs
ProShares ETF has announced three Ethereum ETFs with an expense ratio set at 0.95% below the BETE index. This adds to the competition as there are currently six ETFs vying for launch early next week.
