ETH Price Shoots As Valkyrie Secures Permission to Club ETH-BTC Futures Contracts

The Ethereum (ETH) price has gained more than 3% in the last 24 hours moving past $1,650 levels as Valkyrie has started purchasing Ether futures contracts after securing permission to convert its Bitcoin futures contracts into a two-in-one investment vehicle.

Valkyrie was the pioneer among various firms to receive approval for an Ethereum (ETH) futures ETF. This achievement came after they made necessary amendments to their prospectus and enhanced risk disclosures pertaining to Ether futures. Bloomberg’s senior commodity strategist James Seyffart cleared the confusion regarding the trading of Valkyrie’s Ether futures contracts.

The fund’s revised strategy, which merges both Ethereum (ETH) and Bitcoin (BTC) futures contracts into a single ETF, will officially take effect on October 3. Consequently, the ETF’s name will be changed to “Valkyrie Bitcoin and Ether Strategy ETF,” while retaining its existing ticker symbol, BTF.

Over the last few days, the U.S. SEC has been rushing ahead with the launch of Ethereum futures contracts ahead of the U.S. government shutdown. This might be a strategic move aimed at completing the task before the majority of the SEC staff potentially becomes unavailable in the event of a shutdown.

VanEck Gears Up for the Ether Futures ETFs

Investment manager VanEck is also gearing up for the launch of its Ethereum futures exchange-traded fund (ETF), which analysts anticipate could debut as soon as October 2nd. On September 28th, VanEck unveiled two TV commercials with an “Enter the Ether” theme, introducing its Ethereum Strategy ETF, EFUT, as “coming soon.”

These ads coincided with a press release by VanEck. The VanEck fund also plans to invest in Ether futures contracts traded solely on the Chicago Mercantile Exchange. Greg Krezner, VanEck’s Head of Active Trading, will be managing this fund.

VanEck is undertaking all marketing efforts to create awareness for its Ethereum futures ETF launch next week. Investment manager VanEck is gearing up for the launch of its Ethereum futures exchange-traded fund (ETF), which analysts anticipate could debut as soon as October 2nd.

On September 28th, VanEck unveiled two TV commercials with an “Enter the Ether” theme, introducing its Ethereum Strategy ETF, EFUT, as “coming soon.”