- Valkyrie began purchasing Ether futures contracts after obtaining permission to convert Bitcoin futures contracts into a dual-target investment vehicle.
- Bloomberg’s senior commodity strategist James Seyffart clarified the confusion surrounding the trading of Ether futures contracts.
- The ETF will be renamed “Valkyrie Bitcoin and Ether Strategy ETF,” and the existing ticker symbol, BTF, will remain.
Valkyrie is preparing for the launch of the Bitcoin and Ethereum Strategy ETF: ETH price is on the rise! When will the launch take place?
Valkyrie Prepares for BTC-ETH ETF Launch
In the last 24 hours, Ethereum (ETH) price has risen by more than 3%, surpassing the $1,650 level. After obtaining permission to convert Bitcoin futures contracts into a dual-target investment vehicle, Valkyrie has started purchasing Ether futures contracts.
Valkyrie was among the first firms to receive approval for an Ethereum (ETH) futures trading ETF. This achievement came after they revised their prospectuses and improved risk disclosures regarding Ether futures contracts. Bloomberg’s senior commodity strategist James Seyffart clarified the confusion surrounding the trading of Ether futures contracts.
The revised strategy for the fund, combining Ethereum (ETH) and Bitcoin (BTC) futures contracts into a single ETF, will officially take effect on October 3rd. Consequently, the ETF will be renamed “Valkyrie Bitcoin and Ether Strategy ETF,” and the existing ticker symbol, BTF, will remain.
Over the past few days, it appears that the SEC is rapidly progressing towards launching Ethereum futures contracts before a potential government shutdown. This could be a strategic move to ensure that SEC personnel can complete their tasks in the event of a shutdown.
VanEck Prepares for Ether Futures ETFs
Investment manager VanEck is preparing for the launch of an Ethereum futures exchange-traded fund (ETF), with analysts predicting that the launch could occur on October 2nd. On September 28th, VanEck introduced two TV commercials with the theme “Enter Ether” and announced that Ethereum Strategy ETF EFUT is “coming soon.”
These commercials coincided with a press release from VanEck. The fund plans to invest in Ether futures contracts traded exclusively on the Chicago Mercantile Exchange. Greg Krezner, VanEck’s Head of Active Trading, will manage this fund.
VanEck continues its efforts to raise awareness for the launch of the Ethereum futures ETF, and they anticipate the launch could happen on October 2nd, maintaining their marketing efforts accordingly.
