Asset management company Valkyrie will begin offering exposure to Ether (ETH) futures to US investors through its existing Bitcoin Strategy exchange-traded fund, or ETF.
A Valkyrie spokesperson told Cointelegraph on September 28 that the company's Bitcoin (btc) Strategy ETF will allow investors to access ETH and BTC futures "under one wrapper," making it one of the first companies to do so amid several pending applications with the US Securities and Exchange Commission (SEC). Starting October 3, the fund name will be updated to ETF Valkyrie Bitcoin and Ether Strategy.
At the time of this publication, the SEC had not published a proposed rule change that would allow a new Ether futures ETF to be listed on the Nasdaq Stock Exchange. However, the commission released an order regarding โfurther analysisโ on the pricing of the Valkyrie Bitcoin Fund, a BTC spot ETF.
The move has fully begun when Valkyrie announced that they are buying Ether futures for $BTF today (before the formal name change on Tuesday). In related news, hearing that some broadcasters are set to launch Monday morning, it's not clear how many yet, but at least a couple. Game on. https://t.co/I1FiVU58RZ
- Eric Balchunas (@EricBalchunas) September 28, 2023
valkyrie submitted an application with the SEC on August 16 for a fund that does not offer a direct investment in Ether but rather through an ETH futures contract. The company also offers a Bitcoin Miners ETF, which tracks securities of companies that derive their income or profits from crypto mining, and was also one of the first companies in the US to launch an ETF linked to BTC futures in 2021.
Related: Breaking: Valkyrie Files for Ether Futures ETF with SEC
Bloomberg Intelligence analyst James Seyffart had speculated that Ether futures ETFs I would start negotiating in the first week of October, partly in response to a possible US government shutdown. If members of Congress cannot vote on a bill that funds the government for the next fiscal year in enough time for US President Joe Biden to sign it into law by September 30, the SEC and many other federal agencies will be scaled back. to a minimal team. .
UPDATE: Okay, here we go. Those other 7 points #Bitcoin presentations (including @BlackRock as many have pointed out) who must make a decision by mid-October are receiving their delay orders. Starting to arrive slowly. First @ValkyrieFunds! pic.twitter.com/xywjwLlojT
-James Seyffart (@JSeyff) September 28, 2023
To date, the SEC has not approved any spot crypto ETF to trade in the United States, but many experts have suggested that position could change after Grayscale Investments won a review of its BTC spot ETF in court. Valkyrie, along with several other companies including BlackRock, have pending applications for spot crypto ETFs.
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