Valkyrie, the asset management firm, has started offering exposure to Ether futures to several investors all over the country through the existing Bitcoin Strategy exchange-traded fund, or the ETF.
A spokesperson for the company informed Cointelegraph on the 28th of September that the Bitcoin Strategy ETF of the firm would allow a lot of investors access to Bitcoin and Ether futures under a single wrapper- which would make it one of the very first firms to have done so amid several pending applications with the US Securities and Exchange Commission. This will start on the 3rd of October, wherein the name of the fund will be updated to the Bitcoin and Ether Strategy ETF of the company.
Valkyrie Offering Up Spots For ETFs
During the time of the publication of the report, the SEC hadn’t really published a proposed change in the rule which allowed the listing of a whole new Ether futures ETF on the Nasdaq Stock Exchange. However, the commission then released an order regarding additional analysis of the listing of the Bitcoin Fund of Valkyrie- which was a spot BTC ETF. This led to Valkyrie filing an application with the SEC on the 16th of August for a fund that did not offer any direct investment in Ether but through the ETH futures contract. The BTC would also offer a Bitcoin Miners ETF, which would then derive their revenue or profits from crypto mining.
It has been understood that to date, the SEC hasn’t really approved of any spot crypto ETF for trading in the United States, but there are several experts who have suggested that the position could go through a change following which Valkyrie and other firms would have applications pending for spot crypto ETFs.