Valkyrie, an asset management firm, has announced that it will provide US investors with access to Ether (ETH) futures via its existing Bitcoin Strategy Exchange-Traded Fund (ETF). The firm’s spokesperson mentioned on September 28 that the Bitcoin Strategy ETF would offer exposure to both Ether and Bitcoin (BTC) futures under a single investment vehicle, starting from October 3. Following this, the fund’s name will be changed to the Valkyrie Bitcoin and Ether Strategy ETF.
Despite the announcement, the U.S. Securities and Exchange Commission (SEC) had not yet published a proposed rule change that would allow the listing of a new Ether futures ETF on the Nasdaq Stock Exchange at the time of publication. Nevertheless, the SEC has issued an order for additional analysis on the listing of the Valkyrie Bitcoin Fund, a spot BTC ETF.
In August, Valkyrie had filed an application with the SEC for a fund that doesn’t offer direct investment in Ether but through ETH futures contracts. The firm is also known for offering a Bitcoin Miners ETF, which tracks the securities of companies earning revenue or profits from cryptocurrency mining. In 2021, Valkyrie was among the first firms in the US to launch an ETF linked to BTC futures.
Despite these advancements, the SEC has not approved any spot crypto ETF for trading in the United States to date. The anticipation is building, however, as Grayscale Investments has won a review of its spot BTC ETF in court. Many experts suggest that this could potentially signal a change in the SEC’s stance on spot crypto ETFs. Besides Valkyrie, other firms including BlackRock have pending applications for spot crypto ETFs, further highlighting the growing momentum and demand for such investment vehicles in the market.
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