Valkyrie Expands Offerings to Include Ether Futures Amidst SEC Delay on Spot Bitcoin ETF

Valkyrie, the asset management firm, is making a strategic move to offer exposure to Ether futures for U.S. investors. This development comes through its existing Bitcoin Strategy exchange-traded fund (ETF), a move that is gaining significant attention given the current regulatory landscape.

According to a spokesperson from Valkyrie, the firm’s Bitcoin Strategy ETF will soon provide investors with access to both Ether and Bitcoin futures within one comprehensive framework. This initiative positions Valkyrie as one of the pioneering companies to take such a step, especially considering the multiple pending applications with the U.S. Securities and Exchange Commission (SEC). Starting from October 3, the ETF will be rebranded as the Valkyrie Bitcoin and Ether Strategy ETF, reflecting its expanded investment scope.

As of now, the SEC has not yet published a proposed rule change enabling the listing of a new Ether futures ETF on the Nasdaq Stock Exchange. However, the commission did release an order concerning additional analysis regarding the listing of the Valkyrie Bitcoin Fund, which focuses on spot Bitcoin ETFs.

Valkyrie’s application, submitted to the SEC on August 16, outlines a fund that offers exposure to Ether indirectly, specifically through ETH futures contracts. This move aligns with Valkyrie’s broader strategy, as the firm already offers a Bitcoin Miners ETF, tracking companies whose revenue or profits are derived from cryptocurrency mining. Additionally, Valkyrie was among the first U.S. companies to launch an ETF tied to Bitcoin futures in 2021, showcasing its early adoption and expertise in the crypto ETF market.

Market analysts, including Bloomberg Intelligence’s James Seyffart, have speculated that Ether futures ETFs could commence trading in the initial week of October. This anticipation is partly fueled by concerns over a potential U.S. government shutdown. If Congress fails to pass a bill funding the government into the next fiscal year, the SEC and numerous other federal agencies might operate with minimal staffing levels, impacting their regulatory functions.

It’s worth noting that despite the evolving landscape, the SEC has yet to greenlight any spot crypto ETFs for trading in the United States. However, industry experts remain optimistic, especially after Grayscale Investments secured a review of its spot Bitcoin ETF in court. Valkyrie, along with several other prominent firms, including BlackRock, eagerly awaits the SEC’s decision on their respective spot crypto ETF applications, marking a pivotal moment in the intersection of cryptocurrency and traditional finance.

For more news, find me on Twitter or subscribe to my YouTube channel.

What is your opinion on this issue? Leave me your comment below! I’m always interested in your opinion!

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended for you