Valkyrie Stops Buying Ethereum Futures, ProShares Announces Updated Prospectus for Bitcoin and Ethereum ETF
Valkyrie, an investment firm, has declared that it will no longer purchase Ethereum futures, according to Bloomberg senior ETF analyst Eric Balchunas. This decision comes as Valkyrie issues a 497 filing. In addition, ProShares ETF has announced its plan to file an updated prospectus for its equal-weight Bitcoin and Ethereum ETF, which is scheduled to launch in the upcoming week. The expense ratio for this ETF is set at 0.95% under the ticker BETE. Balchunas highlights that there are currently six ETFs vying for launch early next week. Bitwise and VanEck are among the other firms preparing to release Ether ETFs.
Hot Take: Increased Competition in the Ether ETF Market
The competition among investment firms to launch Ether ETFs is intensifying, with six companies set to enter the market early next week. Valkyrie’s decision not to buy any more Ethereum futures may indicate a strategic shift or a change in their investment strategy. Meanwhile, ProShares is making updates to its prospectus for its Bitcoin and Ethereum ETF, signaling its commitment to provide investors with exposure to these cryptocurrencies. As the market for crypto exchange-traded funds continues to grow, investors have more options to gain exposure to digital assets while benefiting from the oversight and regulation provided by traditional financial markets.
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