Asset management company Valkyrie Asset Management announced today that it will suspend Ethereum (ETH) futures trading until the U.S. Securities and Exchange Commission (SEC) gives official approval to the Bitcoin ETF (BTF).
Valkyrie Pauses Ethereum Futures Trading Until SEC Approval
This decision follows Valkyrie's announcement that it has started to include Ethereum futures in BTF following the green light from the SEC.
Bloomberg ETF analyst Eric Balchunas said on Twitter that the SEC's cautious approach influenced Valkyrie's decision to withdraw its Ethereum futures purchases.
He suggested that the regulator aims to avoid unduly influencing the market and preventing the spontaneous launch of new offerings, similar to the ProShares Bitcoin Strategy ETF (BITO) in 2021.
Despite Valkyrie's strategy change, several Ethereum futures ETFs are expected to begin trading in the US as early as Monday.
ProShares, Bitwise and VanEck are among the organizations that confirmed this development in their respective SEC filings.
Valkyrie Asset Management's decision is in line with its commitment to comply with regulatory rules and ensure the integrity of its investment strategies. The company remains committed to providing investors with a safe and harmonious investment environment.
*This is not investment advice.
