Volatility Shares canceled its planned launch of cryptocurrency Ether (ETH) futures ETF on October 2, citing changes in the market. Justin Young, co-founder and president of the company, confirmed the cancellation in an email conversation with Cointelegraph: "We did not launch today. We do not see the opportunity at this time."
However, when asked if the company plans to launch an ETH futures ETF later, Young replied, "Of course," adding that "plans have not been determined yet."
ETH futures ETFs track the prices of ETH futures contracts, which are agreements to trade assets at a specific time and price in the future. Essentially, they allow investors to participate in ETH trading without having to actually hold the cryptocurrency.
Volatility Shares was positioned to be the first company to offer an ETH futures ETF. The US Securities and Exchange Commission (SEC) was expected to approve the first product on October 12, but concerns about the US government shutdown on October 1 caused the SEC to bring up the approval deadline.
As of October 2, several firms such as Valkyrie, VanEck, ProShares, and Bitwise began trading ETH futures ETFs.
What do you think is the real reason behind Volatility Shares canceling plans to launch an ETH futures ETF? Share your comments with us.
However, when asked if the company plans to launch an ETH futures ETF later, Young replied, "Of course," adding that "plans have not been determined yet."
ETH futures ETFs track the prices of ETH futures contracts, which are agreements to trade assets at a specific time and price in the future. Essentially, they allow investors to participate in ETH trading without having to actually hold the cryptocurrency.
Volatility Shares was positioned to be the first company to offer an ETH futures ETF. The US Securities and Exchange Commission (SEC) was expected to approve the first product on October 12, but concerns about the US government shutdown on October 1 caused the SEC to bring up the approval deadline.
As of October 2, several firms such as Valkyrie, VanEck, ProShares, and Bitwise began trading ETH futures ETFs.
What do you think is the real reason behind Volatility Shares canceling plans to launch an ETH futures ETF? Share your comments with us.