Volatility Shares, a financial firm offering a range of exchange-traded fund (ETF) products, has cancelled its plans to launch an Ethereum futures ETF on Oct. 2. In an email with Cointelegraph, the company’s co-founder and president, Justin Young, confirmed the cancellation, citing changes in the market. However, Young added that plans for an ETH futures ETF are still TBD. An Etheruem futures ETF is an exchange-traded fund that tracks the prices of Ethereum futures contracts — agreements to trade ETH at a specific time and price in the future. Volatility Shares was previously positioned to be the first firm to offer an ETH futures ETF. The Securities and Exchange Commission (SEC) was expected to approve the first ETH futures ETF on Oct. 12, however concerns over the previously impending Oct. 1 U.S. government shutdown reportedly prompted the SEC to move the timeline for approval up. As of Oct. 2, several firms have now begun trading ETH futures ETFs, including Valkyrie, VanEck, ProShares, and Bitwise. The U.S. government managed to avoid the shutdown by passing a stopgap measure to keep services funded through Nov. 17. The senate voted 88-9 to pass the measure and U.S. President Joe Biden signed it into law immediately.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	Joe Biden, Justin Young
Companies	Securities and Exchange Commission, Bitwise, Valkyrie, Commodity Futures Trading Commission, VanEck, Volatility Shares, ProShares
Currencies	Ethereum, Bitcoin
Securities	None