According to a recent report from FOX Business reportValkyrie Investments has obtained approval from the Securities and Exchange Commission (SEC) to launch the first exchange-traded fund (ETF) that includes ethereum (eth) futures.
This achievement positions Valkyrie as a leader among nine issuers seeking to provide investors with the opportunity to speculate on the future price of the world’s second largest digital asset through a ETFs.
Valkyrie Emerges as Pioneer in ethereum Futures ETF Race
Ether, the native token of ethereum block chain, is currently worth approximately $1,659 per token. Valkyrie aims to improve retail participation in the cryptocurrency market by introducing an ETF that tracks Ether futures.
According to FOX, Valkyrie Investments plans to merge its existing bitcoin (btc) Futures ETF with the recently introduced Ether Futures ETF, creating a combined fund called “Valkyrie bitcoin and Ether Strategy ETF.”
Notably, the ETF’s Nasdaq symbol, BTF, will remain unchanged. The fund’s strategy includes opportunistic purchasing of ethereum futures, reflecting the growing interest in this digital asset over the past year.
Originally scheduled to begin trading on October 3, Valkyrie accelerated its launch in response to the possibility of a government shutdown on Friday, an event that would limit SEC operations.
With nearly two million federal workers facing layoffs without a funding deal, Gensler has urged companies planning to go public to accelerate their offerings before the shutdown occurs.
The fate of Ether futures applicants remains uncertain as the SECOND has requested that they update their filings with any additional information by Friday afternoon.
Finally, Steven McClurg, Chief Investment Officer at Valkyrie, expressed his excitement at being at the forefront of offering ethereum futures to investors, recognizing the exponential growth of interest around this asset class.
Featured image from Shutterstock, chart from TradingView.com
