- Valkyrie obtains a green light to start buying Ethereum (ETH) futures, augmenting its existing Bitcoin (BTC) Exchange Traded Fund (ETF) to encompass both cryptocurrencies.
- With a formal effective date of October 3, this novel approach ushers in the first US ETF housing both Ether and Bitcoin futures, introducing a diversified crypto-investment vehicle to the market.
In an unprecedented move, asset manager Valkyrie has begun the procurement of Ether (ETH) futures contracts, following a regulatory approval to transform its existing Bitcoin futures Exchange Traded Fund (ETF) into a more diversified crypto-investment vehicle. This transition commenced under the banner of “Valkyrie Bitcoin Strategy ETF” (Nasdaq: $BTF), now making strides towards including Ether futures contracts.
🔥 Valkyrie takes the lead in the crypto game! They're diving headfirst into Ether futures contracts, making them the FIRST US ETF to offer exposure to both ETH and Bitcoin futures under one roof. 🚀💰
— Collin Brown (@CollinBrownXRP) September 29, 2023
Leading the Charge Towards Diversified Crypto-ETFs
Valkyrie stands at the forefront as it garners approval for an ETH futures ETF ahead of its industry peers, having augmented its prospectus while updating the risk disclosures pertaining to Ether futures, according to a spokesperson. This approval facilitates the fusion of both ETH and BTC futures contracts into a single ETF, a move slated to take formal effect come October 3. Post-transition, the fund will bear the name
“Valkyrie Bitcoin and Ether Strategy ETF,”
albeit retaining its ticker, BTF.
This groundbreaking strategy now places Valkyrie alongside other entities that have tabled filings to initiate ETH futures ETFs, including notable names like Volatility Shares Ether Strategy ETF, Bitwise Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, among others. However, Valkyrie’s ETF diverges by offering a dual-cryptocurrency exposure under a singular ETF wrapper, marking a significant advancement in the crypto-investment landscape.
— VanEck (@vaneck_us) September 28, 2023
Additionally, VanEck, a behemoth with $77.8 billion in assets under management, revealed its preparations to launch its Ethereum futures exchange-traded fund (ETF), further illustrating a burgeoning interest in Ethereum-based investment vehicles.
The fusion of Bitcoin and Ethereum futures under one ETF roof by Valkyrie not only exemplifies a pioneering effort in navigating the regulatory frameworks but also propounds a diversified avenue for investors seeking to tap into the lucrative but volatile cryptocurrency market. With this maneuver, Valkyrie underscores the burgeoning recognition and acceptance of digital assets within the formal investment arena, potentially ushering a new era of diversified crypto-based ETFs in the United States market.