Rather than purchasing Ether futures in advance, the asset management company Valkyrie will wait until the United States Securities and Exchange Commission approves an exchange-traded fund (ETF) with exposure to Ether futures.
In a September 29 SEC filing, Valkyrie stated that it would not make certain purchases “until the effectiveness of an amendment,” reflecting ETH futures contracts as the ETF’s primary investment strategy.
The company announced on September 28 that it intended to provide investors with exposure to Ether and Bitcoin via a combined Bitcoin and Ether Strategy ETF, with purchases scheduled before the fund’s launch in the first week of October.
“The Fund will unwind any existing positions in ether futures contracts,” according to the SEC filing. It is unknown what may have caused the company to alter its position in less than twenty-four hours.
In August, Valkyrie filed with the SEC to list an Ether futures ETF on the Nasdaq Stock Market, but the regulator has not yet decided on a proposed rule change that would permit the investment vehicle.
Multiple ETFs providing exposure to Ether futures are anticipated to commence trading in the first week of October, including those from VanEck, Bitwise, and ProShares.