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Analyst: Valkyrie likely pressured not to buy more Ethereum futures

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As per Eric Balchunas, a Bloomberg senior ETF analyst, Valkyrie has issued a 497, declaring that they won’t be buying any more Ethereum futures.

Balchunas speculates that the United States Securities and Exchange Commission (SEC) might have influenced their decision to halt these purchases.

The plot thickens, Valkyrie just put out 497 that they are in fact not going to buy Ether futures until they are live (prob Tue) and are going to sell the Eth futures they bought (in an effort to jump line a bit). SEC must have threatened them to cut it out. Damn. https://t.co/yDkggCw3d1 pic.twitter.com/cKaV7k7AJs

— Eric Balchunas (@EricBalchunas) September 29, 2023

According to reports on Sep. 28, the Valkyrie Bitcoin Strategy exchange-traded fund (ETF) was reported to be adding exposure to Ethereum futures contracts, becoming the first American ETF to offer holders exposure to Ethereum and Bitcoin futures in one package.

Valkyrie was also the first company to receive approval for an Ethereum futures ETF, updating its prospectus and risk disclosures related to Ethereum.