Ethereum

Biden

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 The company’s co-founder and president, Justin Young, told Cointelegraph in an email that plans to launch at a later date were “TBD.” 
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 Volatility Shares, a financial firm offering a range of exchange-traded fund (ETF) products, has cancelled its plans to <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> an Ethereum <a rel="noopener noreferrer nofollow" title="future" href="https://thebittimes.com/tag/future.html">future</a>s ETF on Oct. 2, citing changes in the market.&nbsp; 
 In an email with Cointelegraph, the company’s co-founder and president, Justin Young, confirmed the cancellation: 
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 “You are correct, we did not launch today. We didn't see the opportunity at this point in time.” 
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 However, in a follow-up email, when asked if the company still planned to <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> an ETH <a rel="noopener noreferrer nofollow" title="future" href="https://thebittimes.com/tag/future.html">future</a>s ETF at a later date Young responded “of course” adding that “plans are TBD.” 
 An Etheruem futures ETF is an exchange-traded fund that tracks the prices of Ethereum futures contracts — agreements to trade ETH at a specific time and price in the future. Essentially, it allows investors to be involved in ETH trading without having to actually hold any Ethereum. 
 Related: SEC continues to delay decisions on crypto ETFs: Law Decoded 
 Volatility Shares was previously positioned to be the first firm to offer an ETH <a rel="noopener noreferrer nofollow" title="future" href="https://thebittimes.com/tag/future.html">future</a>s ETF. As Cointelegraph reported, Oct. 12 was initially slated as the date which the Securities and Exchange Commission (SEC) was expected to approve the first ETH <a rel="noopener noreferrer nofollow" title="future" href="https://thebittimes.com/tag/future.html">future</a>s ETF, however concerns over the previously impending Oct. 1 U.S. government shutdown reportedly prompted the SEC to move the timeline for approval up. 
 As of Oct. 2, several firms have now begun trading ETH futures ETFs, including Valkyrie, VanEck, ProShares, and Bitwise. 
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 Pretty meh volume for the Ether Futures ETFs as a group, a little under $2m, about normal for a new ETF but vs $BITO (which did $200m in first 15min) it is low. Tight race bt VanEck and ProShares in the single eth lane. pic.twitter.com/F9AHtrVcVf— Eric Balchunas (@EricBalchunas) October 2, 2023 
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 As Cointelegraph’s Turner Wright recently wrote, “bills for the good or ill of digital assets would be halted amid a shutdown, and financial regulators, including the Securities and Exchange Commission and Commodity Futures Trading Commission, would be running on a skeleton crew.” 
 In a twist, the U.S. government managed to avoid the shutdown by passing a stopgap measure to keep services funded through Nov. 17. According to multiple reports, the senate voted 88-9 to pass the measure. U.S. President Joe Biden signed it into law immediately. 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/volatility-shares-cancels-eth-etf-futures-launch-didn-t-see-the-opportunity-at-this-point-in-time-tbt64863.html">https://thebittimes.com/volatility-shares-cancels-eth-etf-futures-launch-didn-t-see-the-opportunity-at-this-point-in-time-tbt64863.html</a>

Volatility Shares cancels ETH-ETF futures launch, ‘didn’t see the opportunity at this point in time’

TheBitTimes

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