Asset management firm Valkyrie, one of the frontrunners for the first Ethereum ETF (exchange-traded fund) in the United States, has decided to pause its purchase of Ether futures contracts until the US Securities and Exchange Commission approves an Ether futures ETF. This comes barely a day after the asset manager reportedly secured approval to offer investors exposure to Ether futures under its existing strategy ETF (BTF).

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On Friday, September 29, Valkyrie filed a 497 with the SEC, saying that it would halt the purchase of Ether futures contracts and unwind its existing positions. 

A part of the filing read:

Effectively immediately, The Fund will not purchase ether futures contracts until the effectiveness of an …