Express
Valkyrie Withdraws Leveraged Bitcoin Futures ETF Filing Under Regulatory Pressure
Summary: According to a public regulatory file, three days after filing the first leveraged Bitcoin futures ETF application on Tuesday, the asset management company Valkyrie withdrew its application under regulatory pressure from the Securities and Exchange Commission (SEC). Valkyrie XBTO leveraged BTC futures ETF was originally intended to be traded under the ticker BTFX. It will ...
According to a public regulatory file, three days after filing the first leveraged Bitcoin futures ETF application on Tuesday, the asset management company Valkyrie withdrew its application under regulatory pressure from the Securities and Exchange Commission (SEC).
Valkyrie XBTO leveraged BTC futures ETF was originally intended to be traded under the ticker BTFX. It will provide 1.25x Bitcoin reference interest rate exposure and hold futures, swaps, options and forward contracts.
A source told BlockWork that the SEC has also asked other issuers to withdraw any applications that differ from the approved structure of Bitcoin futures contracts.
Nate Geraci, President of ETF Store, commented: "Historically, they have allowed leveraged and inverse ETFs to exist in markets they have deemed acceptable. For example, the SEC recently greenlit leveraged and inverse VIX ETFs. I’m not sure why Bitcoin futures would be any different."
By Mary Liu
Tags: Bitcoin Futures,Cryptocurrency,ETF,SEC,Valkyrie
Link: Valkyrie Withdraws Leveraged Bitcoin Futures ETF Filing Under Regulatory Pressure [Copy]
