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SEC gave the first futures Ethereum ETF approval! Valkyrie Investments became the first company to earn the right to offer Ethereum Futures ETFs in the USA.
SEC has granted a Futures Ether ETF approval to a company for the first time. Thus, Valkyrie Investments became the first company to offer a Futures Ethereum ETF. The SEC had granted approval to Valkyrie Investments for a Futures Bitcoin ETF in October 2021. Valkyrie plans to modify the investment strategy of the existing Bitcoin Futures ETF to also include Ethereum Futures contracts.
Currently, there are 8 companies waiting for approval for their Futures Ethereum ETF applications. Among these companies are VanEck, Grayscale Investments, and Bitwise. With Valkyrie receiving approval, there is a possibility that approvals for other ETFs could come shortly.
US Republican presidential candidate and billionaire entrepreneur Vivek Ramaswamy announced that, if elected, he would implement his cryptocurrency policy framework and plans to publish a version of it before Thanksgiving.
This week, the SEC has delayed the decisions on the Ethereum Spot ETFs of ARK 21Shares and VanEck. It also announced the delay of the spot Bitcoin ETF application by ARK Invest and Global X. Due to the strict stance of SEC Chairman Gary Gensler against cryptocurrencies, companies are struggling to get ETF approvals. Gensler stated in court this week that Bitcoin is not a security.
Valkyrie’s Chief Investment Officer Steven McClurg said, “We are excited to be the first to offer our investors Ethereum futures as interest in the asset has increased exponentially over the past year.”
Valkyrie had planned to launch the Futures Ethereum ETF on October 3rd, but due to a possible government shutdown on Friday, they will release the ETF tomorrow. The first Futures Ethereum ETF will be listed tomorrow. Currently, the price of Ethereum is hovering around $1656.
SEC has given approval for the Futures Ethereum ETF for the first time.
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