Valkyrie Breaks Ground with Dual Cryptocurrency ETF: Ethereum Futures Now in Play

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Valkyrie has expanded its offerings by incorporating Ethereum (ETH) futures contracts. This innovative approach arises after the firm received the nod to transform its established Bitcoin futures exchange traded fund (ETF) into a dual cryptocurrency vehicle.

First of Its Kind: Dual Exposure ETF

The Valkyrie Bitcoin Strategy ETF, listed under the ticker $BTF on Nasdaq, is now stepping into Ethereum’s territory. With this addition, it proudly stands as the premiere US ETF to offer investors an opportunity to dabble in both Ethereum and Bitcoin futures contracts within a single investment portfolio. The transition isn’t just limited to the addition of Ether. Come October 3rd, a fresh avatar of this fund will emerge as the “Valkyrie Bitcoin and Ether Strategy ETF”. However, for those familiar with its previous identity, the ticker, BTF, will remain unchanged.

What sets Valkyrie apart from other competitors in the race for Ethereum futures ETF is its proactive approach. The firm swiftly enhanced its official documentation, integrating additional data and refining risk disclosures tailored to Ethereum futures, thus ensuring a smoother approval process.

Awaiting the Green Signal for Spot Crypto ETFs

While this move marks a significant leap in the crypto ETF push, the Securities and Exchange Commission (SEC) has yet to give a thumbs up to any spot Bitcoin ETFs for active trading on American soil. Valkyrie isn’t alone in its quest for this approval; heavyweights like BlackRock and Bitwise are also in the queue, awaiting the SEC’s green signal for their respective spot crypto ETF proposals.

To provide more clarity, as of now, the SEC hasn’t released any formal guidelines that would permit the introduction of a new Ether futures ETF on the prestigious Nasdaq Stock Exchange. Concurrently, there’s buzz around the commission’s order seeking further deliberation on the potential listing of the Valkyrie Bitcoin Fund, which revolves around a spot BTC ETF.