Volatility Shares, a monetary agency providing a spread of exchange-traded fund (ETF) merchandise, has cancelled its plans to launch an Ethereum futures ETF on Oct. 2, citing modifications out there.
In an electronic mail with Cointelegraph, the corporate’s co-founder and president, Justin Younger, confirmed the cancellation:
“You’re appropriate, we didn’t launch right now. We did not see the chance at this cut-off date.”
Nonetheless, in a follow-up electronic mail, when requested if the corporate nonetheless deliberate to launch an ETH futures ETF at a later date Younger responded “after all” including that “plans are TBD.”
An Etheruem futures ETF is an exchange-traded fund that tracks the costs of Ethereum futures contracts — agreements to commerce ETH at a selected time and value sooner or later. Primarily, it permits buyers to be concerned in ETH buying and selling with out having to really maintain any Ethereum.
Associated: SEC continues to delay choices on crypto ETFs: Regulation Decoded
Volatility Shares was beforehand positioned to be the primary agency to supply an ETH futures ETF. As Cointelegraph reported, Oct. 12 was initially slated because the date which the Securities and Trade Fee (SEC) was anticipated to approve the primary ETH futures ETF, nonetheless considerations over the beforehand impending Oct. 1 U.S. authorities shutdown reportedly prompted the SEC to maneuver the timeline for approval up.
As of Oct. 2, a number of corporations have now begun buying and selling ETH futures ETFs, together with Valkyrie, VanEck, ProShares, and Bitwise.
Fairly meh quantity for the Ether Futures ETFs as a gaggle, a bit of below $2m, about regular for a brand new ETF however vs $BITO (which did $200m in first 15min) it’s low. Tight race bt VanEck and ProShares within the single eth lane. pic.twitter.com/F9AHtrVcVf
— Eric Balchunas (@EricBalchunas) October 2, 2023
As Cointelegraph’s Turner Wright just lately wrote, “payments for the nice or in poor health of digital belongings could be halted amid a shutdown, and monetary regulators, together with the Securities and Trade Fee and Commodity Futures Buying and selling Fee, could be working on a skeleton crew.”
In a twist, the U.S. authorities managed to keep away from the shutdown by passing a stopgap measure to maintain providers funded via Nov. 17. In response to a number of reviews, the senate voted 88-9 to cross the measure. U.S. President Joe Biden signed it into legislation instantly.
