Ethereum

Valkyrie Ethereum Futures ETF Receives U.S. SEC Approval To Launch Next Week

Key Points:

SEC approves Valkyrie’s ETF switch to Bitcoin and Ethereum futures, a US first.
“Valkyrie Bitcoin and Ethereum Strategy ETF” (BTF) launches on October 3rd.
Investors gain access to Valkyrie Ethereum futures ETF, a notable milestone in cryptocurrency investments.

Accoridng to Reuters, the Securities and Exchange Commission (SEC) has given the green light to Valkyrie, allowing the conversion of its existing Bitcoin futures ETF into a Bitcoin and Ethereum futures ETF. Effective October 3rd, the newly rebranded “Valkyrie Bitcoin and Ethereum Strategy ETF,” retaining its code as BTF, is set to debut on Monday.

Valkyrie Ethereum Futures ETF Receives U.S. SEC Approval To Launch Next Week 2

SEC Greenlights Valkyrie Ethereum Futures ETF

This groundbreaking move makes Valkyrie the first ETF provider in the United States to offer simultaneous exposure to both Ether and Bitcoin futures contracts within a single fund. The transformation comes as the Valkyrie Bitcoin Strategy ETF has gradually increased its involvement in Ether futures contracts, marking a significant shift from its previous Bitcoin-only focus.

Valkyrie Ethereum futures ETF, which was originally centered on Bitcoin futures, swiftly filed for conversion to this dual-exposure fund. This strategic maneuver allowed Valkyrie to outpace competitors who had initiated filings for entirely new funds following a similar investment approach.

Valkyrie Pioneers Dual-Exposure ETF in the US Crypto Market

Notably, the Valkyrie Ethereum Futures ETF gained approval ahead of others due to its comprehensive prospectus that incorporated updated risk disclosures related to Ethereum futures. Investors will now have access to futures based on Ethereum contracts via an exchange-traded fund, marking a significant development for the cryptocurrency market.

The Valkyrie Bitcoin and Ethereum Strategy ETF will begin by holding less than 10% in Ethereum futures on September 29, transitioning to an equal allocation of 50% Ethereum futures and 50% Bitcoin futures in the first week of October. This move underscores the growing investor interest in diversified cryptocurrency exposure within the evolving ETF landscape.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.