Valkyrie's Ethereum Futures ETF Approved by the SEC

Valkyrie’s Ethereum futures ETF approved by the SEC

Just a day after putting Bitcoin spot ETF applications from 21Shares and ARKK on hold, the SEC has granted approval to Valkyrie Investments to introduce the first Ethereum futures-focused ETF. This marks a significant stride in integrating digital assets into mainstream U.S. financial markets. 

Already well-known for its top-performing Bitcoin Mining ETF, Valkyrie aims to offer investors more diverse exposure by including Ethereum futures in its fund, which will be rebranded as the Valkyrie Bitcoin and Ether Strategy ETF. 

The approval suggests a cautious yet growing institutional acceptance of advanced crypto investment vehicles, even as the regulatory body hesitates to endorse spot ETFs. The expedited crypto futures approval comes amidst concerns over a potential government shutdown, adding a layer of urgency to the rollout of this novel financial product.

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Fake crypto exchange charged with fraud

Mosaic Exchange Limited, a US-based company claiming to be a “cryptocurrency trading platform” defrauded more than a dozen investors out of “hundreds of thousands of dollars” in Bitcoin and other cryptocurrencies. This is according to a civil enforcement action filed by the U.S. Commodity Futures Trading Commission (CFTC), against both the company, and its CEO, Sean Michael.

The lawsuit was filed with the U.S. District Court for the Southern District of Florida, with CFTC seeking restitution, damages, civil penalties, permanent trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act (CEA) and CFTC regulations.

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First successful registration of tokenized property in the EU

Real estate tokenization was something of an elusive dream for every crypto fan out there, but every now and then - dreams do come true. Earlier this week, real estate tokenization firm Blocksquare announced successfully pulling off the world’s first notarized tokenization of a real estate property, which is now officially integrated with the Slovenian land registry. 

The company describes real estate tokenization as a process in which the rights to physical assets (in this case, property), are converted into digital tokens on a blockchain. Each individual token represents a fraction of the property’s value and can be traded in a secure and transparent way.

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Alchemy acquires Satsuma

Earlier this week, web3 developer infrastructure company Alchemy announced buying the blockchain data indexing platform, Satsuma. In a blog post, the company said it will merge with Satsuma, which will then be renamed as Alchemy Subgraphs. The financial details of the deal were not disclosed. 

Alchemy’s product manager, Mike Garland, told the media that the acquisition was due to Satsuma building a “phenomenal product and quickly growing”. Before buying Satsuma, Alchemy acquired ChainShot, a web3 developer education platform, in a deal that was finalized more than a year ago.

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Other breaking news

• Curve founder deposits $68m to clear his debt 
• Immunefi Vaults Systems is live
• Paradigm launches Policy Lab
• Rated Labs raises $12m
• France tests CBDCs for cross-border payments

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Wrapping up

In today's Datawallet Daily, we've explored a range of pivotal moments in the crypto world—from the SEC's approval of Valkyrie’s Ethereum futures ETF to the landmark registration of tokenized real estate in the EU. As regulatory frameworks continue to evolve and technological innovations break new ground, it's evident that the crypto landscape is both dynamic and replete with opportunity. Stay informed and stay savvy as you navigate this ever-changing market.