Valkyrie filed for an Ether (ETH) futures exchange-traded fund (ETF)

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Valkyrie, an asset management firm, has submitted an application to the United States Securities and Exchange Commission (SEC) for an Ether (ETH) futures exchange-traded fund (ETF). This move follows Valkyrie’s previous efforts to adjust its Bitcoin (BTC) futures ETF investment strategy in line with regulatory guidelines. The proposed fund will not invest directly in Ether but will aim to acquire ETH futures contracts. The document describes Ether as a potential currency or digital commodity, emphasizing its limited use in commercial transactions and its significant price volatility. Additionally, the ETF will diversify its assets into cash, cash-equivalents, and high-quality securities, including those issued by the U.S. government.

ETF Newz Says:

The application also outlines that the ETF’s investment in Ether futures contracts will adhere to a cap of 8,000 contracts per month, in compliance with the Chicago Mercantile Exchange’s position limits. If approved, this ETF will allow investors to speculate on future Ether prices. This application by Valkyrie is part of a broader trend, with several major asset managers, including Grayscale and VanEck, also filing for Ether futures ETFs in the U.S. The industry anticipates a favorable regulatory stance on cryptocurrency-based ETFs, with many awaiting the potential approval of a spot Bitcoin ETF.

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