11 months ago
The company’s co-founder and president, Justin Young, told Cointelegraph successful an email that plans to motorboat astatine a aboriginal day were “TBD.”
Volatility Shares, a fiscal steadfast offering a scope of exchange-traded money (ETF) products, has cancelled its plans to motorboat an Ethereum futures ETF connected Oct. 2, citing changes successful the market.
In an email with Cointelegraph, the company’s co-founder and president, Justin Young, confirmed the cancellation:
“You are correct, we did not motorboat today. We didn't spot the accidental astatine this constituent successful time.”However, successful a follow-up email, erstwhile asked if the institution inactive planned to motorboat an ETH futures ETF astatine a aboriginal day Young responded “of course” adding that “plans are TBD.”
An Etheruem futures ETF is an exchange-traded money that tracks the prices of Ethereum futures contracts — agreements to commercialized ETH astatine a circumstantial clip and terms successful the future. Essentially, it allows investors to beryllium progressive successful ETH trading without having to really clasp immoderate Ethereum.
Related: SEC continues to hold decisions connected crypto ETFs: Law Decoded
Volatility Shares was antecedently positioned to beryllium the archetypal steadfast to connection an ETH futures ETF. As Cointelegraph reported, Oct. 12 was initially slated arsenic the day which the Securities and Exchange Commission (SEC) was expected to o.k. the archetypal ETH futures ETF, nevertheless concerns implicit the antecedently impending Oct. 1 U.S. authorities shutdown reportedly prompted the SEC to determination the timeline for support up.
As of Oct. 2, respective firms person present begun trading ETH futures ETFs, including Valkyrie, VanEck, ProShares, and Bitwise.
Pretty meh measurement for the Ether Futures ETFs arsenic a group, a small nether $2m, astir mean for a caller ETF but vs $BITO (which did $200m successful archetypal 15min) it is low. Tight contention bt VanEck and ProShares successful the azygous eth lane. pic.twitter.com/F9AHtrVcVf
— Eric Balchunas (@EricBalchunas) October 2, 2023As Cointelegraph’s Turner Wright recently wrote, “bills for the bully oregon sick of integer assets would beryllium halted amid a shutdown, and fiscal regulators, including the Securities and Exchange Commission and Commodity Futures Trading Commission, would beryllium moving connected a skeleton crew.”
In a twist, the U.S. authorities managed to avoid the shutdown by passing a stopgap measurement to support services funded done Nov. 17. According to aggregate reports, the legislature voted 88-9 to walk the measure. U.S. President Joe Biden signed it into instrumentality immediately.
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