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Fund manager Valkyrie has gained approval to add ethereum futures as part of its bitcoin Strategy exchange-traded fund (ETF).
“Today, the Valkyrie bitcoin Strategy ETF (Nasdaq: $BTF) began adding exposure to Ether futures contracts, making it the first US ETF to provide exposure to Ether and bitcoin futures contracts under a single wrapper”,eth-futures-for-its-existing-bitcoin-etf/?utm_medium=referral&utm_source=rss&utm_campaign=headlines”> the spokesperson said Coin desk.
LATEST BULLISH NEWS
Valkyrie now allows people to invest in eth?src=hash&ref_src=twsrc%5Etfw”>#eth futures with its combined bitcoin and Ether Strategy ETF. They are the first in the US to offer the opportunity to predict the future price of the second largest digital currency!
History in the making today… pic.twitter.com/os9m5IresJ
—Bito Ordileone (@bitoordileone) September 28, 2023
The company has now begun acquiring ethereum futures contracts as it prepares to offer the offering starting October 3. As a result, the Valkyrie bitcoin Strategy ETF will be renamed Valkyrie bitcoin and Ether Strategy ETF, while its symbol will remain BTF.
Valkyrie has come a long way in the ETF space given that it was one of the first in the US to introduce a fund linked to btc futures in 2021. The company also offers a bitcoin Miners ETF that tracks the values of companies who obtain their income or profits. of cryptocurrency mining.
VanEck Gets Approval for ethereum Futures ETF
Valkyrie is not the only company that will offer investments with exposure to Ether futures. The SEC also finally approved VanEck’s Ether Futures ETF.
The VanEck ethereum Strategy ETF (EFUT) invests in conventional cash-settled eth futures contracts that are traded on commodity exchanges that are members of the Commodity Futures Trading Commission (CFTC).
in a ethereum-Futures-ETF-EFUT”>statement In announcing the plan to launch the ETF, the company stated that the fund will only invest in eth futures that trade on the Chicago Mercantile Exchange.
The Ether ETF, which will be listed on CBOE, joins the asset manager’s ETF roster after its bitcoin futures fund, the VanEck bitcoin Strategy ETF (XBTF), launched in November 2021. The company still has not given an official release date. but he promised to continue sharing updates on his X account.
When you are ready, ENTER THE ETHER. The VanEck ethereum Strategy ETF ($EFUT) is coming soon. Read our press release: https://t.co/4QPOVd5nB2 pic.twitter.com/vSF3HzMuvC
—VanEck (@vaneck_us) September 28, 2023
While reports also hint at the approval of rival ProShare’s Ether futures ETF, the company has yet to officially announce it. This gives VanEck a first-mover advantage among all companies that have pending approvals for the same offering, including GrayScale, Bitwise, and Round Hill.
SEC Delays Spot crypto ETFs
Until now, the SEC has only allowed futures ETFs for both bitcoin and ethereum. It has shown no signs of approving spot crypto ETFs that are directly backed by the crypto assets themselves.
The agency has extended the approval period to the maximum period allowed in some cases. For ethereum spot funds, VanEck and ARK 21Shares’ deadlines for making a decision have been moved to December 25 and 26 respectively.
On the bitcoin ETF front, the SEC has delayed several applications this week, including Blackrock, ARK 21Shares, Invesco, Bitwise, and Valkyrie.
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