Valkyrie Bitcoin and Ether ETF Launch
The U.S. Securities and Exchange Commission (SEC) is reportedly expediting the launch of the Valkyrie Bitcoin and Ether ETF ahead of a potential government shutdown. Analysts from Bloomberg predict that if all goes according to plan, the ETF could be launched as early as next week.
Earlier reports indicated that there is a 90% chance of Ethereum Futures ETFs launching in October 2023. Additionally, Valkyrie’s Bitcoin futures ETF is expected to be the first to include exposure to Ethereum on October 3, 2023. Valkyrie recently submitted a Form 497 outlining its plan to convert the Bitcoin futures ETF into a dual Bitcoin and Ether ETF.
In light of the potential government shutdown, the SEC aims to accelerate the launch of Ethereum futures ETFs. This move would allow them to complete the process before a significant portion of SEC staff may become unavailable during the shutdown.
Other Ethereum ETF Filings
The Volatility Shares Ethereum futures ETF, originally scheduled for launch on October 11, may face delays due to the potential government shutdown. Grayscale also resubmitted an application on September 20, 2023, to create an Ethereum Futures ETF.
Hot Take: SEC Fast-Tracks Valkyrie Bitcoin and Ether ETF Amid Government Shutdown Fears
The SEC is reportedly expediting the launch of the Valkyrie Bitcoin and Ether ETF in response to concerns over a looming government shutdown. This move aims to ensure that the ETF is launched before a potential shortage of SEC staff due to the shutdown. The accelerated launch comes amidst predictions of high chances for Ethereum Futures ETFs launching in October 2023. It remains to be seen how these developments will impact the crypto market and investor sentiment.
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