Tag: ETF

Valkyrie backtracks on Ether futures contract purchases until ETF launch

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Asset management firm Valkyrie has said it will hold out for the United States Securities and Exchange Commission (SEC) to approve an exchange-traded fund, or ETF, with exposure to Ether (ETH) futures rather than making purchases in advance. In a Sept. 29 filing with the SEC, Valkyrie said it will not make certain purchases “until the effectiveness of an amendment” reflecting ETH futures contracts as the ETF’s principal investment strategy. The firm told Cointelegraph on Sept. 28 that it planned to allow investors exposure to Ether and Bitcoin (BTC) under…

Valkyrie Receives Permission to Start Buying ETH Futures for Its Bitcoin ETF

The news of the new Valkyrie ETF caused a spike in Ether price.  Asset manager Valkyrie has received approval to convert its Bitcoin futures exchange-traded fund (ETF) to a two two-for-one investment vehicle by combining Bitcoin and Ether futures contracts into one contract. The firm has already started buying Ether futures contracts. In a statement to CoinDesk, a company spokesperson wrote: “Today, the Valkyrie Bitcoin Strategy ETF (Nasdaq: $BTF) began adding exposure to Ether futures contracts, making it the first US ETF to provide exposure to Ether and Bitcoin futures…

Crypto Analysts Remain Bullish SEC Postpones Spot Bitcoin ETF Verdict for BlackRock, Invesco, Bitwise

Eric Balchuna claims that by the end of 2024, there is a 95% chance that a spot Bitcoin ETF will be approved, up from a 75% likelihood this year. The United States Securities and Exchange Commission (SEC) has once again postponed its decision on multiple proposals for spot Bitcoin exchange-traded funds (ETFs). This move, affecting applications from major crypto players such as BlackRock and Invesco, has caused serious discussions among analysts. The unexpected turn of events happened two weeks ahead of schedule. This delay can be attributed to the looming…

$9 Trillion BlackRock Sees Bitcoin Spot ETF Approval Delayed, What This means

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In continuation of its recent wave of delays, the US Securities and Exchange Commission (SEC) has further delayed the Spot Bitcoin ETF application of the world’s largest asset manager, BlackRock.  SEC Request For Comments On BlackRock’s Bitcoin ETF Application In its release concerning BlackRock’s application, the SEC called for written comments on why the iShares Bitcoin Trust should be approved or disapproved. This move ultimately extends the period in which the Commission can decide on the proposed rule change, with the next deadline coming on January 15, 2024.  As part…

VanEck Announces Upcoming Launch of Ethereum Futures ETF (EFUT)

VanEck will not invest in Ethereum directly since the product tracks Ether futures that are traded on the Chicago Mercantile Exchange (CME). A leading asset management firm with more than $80 billion in AUM, VanEck, is preparing to launch an Ethereum futures exchange-traded fund (ETF) amid heightened demand for the second-largest digital assets by institutional investors. According to the company, the new product will be called VanEck Ethereum Strategy ETF (EFUT), and will not invest in Ethereum directly. Instead, the EFUT will invest in standardized cash-settled Ethereum futures contracts that…

VanEck releases two ETF ads ahead of possible Monday launch

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Investment manager VanEck has fired up the marketing engine for its “upcoming” Ethereum futures exchange-traded fund (ETF), which some analysts expect could be launched as early as Oct. 2. On Sept. 28, VanEck released the two “Enter the Ether” themed TV commercials, revealing that its Ethereum Strategy ETF — tickered EFUT — is “coming soon.” AI, AI, Uh Oh! Follow for updates on how to Enter the Ether. pic.twitter.com/wM69nVtbWC — VanEck (@vaneck_us) September 28, 2023 The commercials came on the same day VanEck published a press statement about its upcoming…

SEC delays spot Bitcoin ETF decision for BlackRock, Invesco and Bitwise

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The United States Securities and Exchange Commission has delayed its decision on several proposals for spot Bitcoin (BTC) exchange-traded funds (ETFs), including BlackRock, ahead of an anticipated government shutdown. The spot Bitcoin ETF applications of Invesco, Bitwise and Valkyrie were also delayed by the SEC, according to separate Sept. 28 filings, while Bloomberg ETF analyst James Seyffart is expecting the applications from Fidelity, VanEck and WidsomTree to also be pushed back by the securities regulator. ANOTHER: @BlackRock joins the party on spot #Bitcoin ETF delays. Three out of seven down. https://t.co/Cn9DSibqf8 pic.twitter.com/eJTzDNInCi — James Seyffart…

Is The Ethereum Winter Over? L2 Exploding, ETH Futures ETF Launches

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After sinking roughly 30% from 2023 highs, Ethereum appears to be bouncing off from the pits of the crypto winter. Looking at candlestick arrangements in the daily and weekly charts, the coin has primary support at around $1,500 and is firm, bouncing off with decent trading volume.  At spot rates, ETH is up approximately 3% following positive developments sparked by the increasing adoption of its layer-2 scaling solution and the recent news that VanEck, a player managing billions of assets, is preparing to launch an Ethereum derivatives product. ETH price…