Valkyrie Files Application for ETH Futures ETF
Asset management firm Valkyrie has filed an application for an Ether Futures Exchange-Traded Fund (ETF) with the US Securities and Exchange Commission. The fund will not directly invest in Ethereum but will seek to purchase Ether futures contracts. Users looking for direct exposure to the ETH price should consider other investment instruments. The ETF will also invest in collateral investments such as cash, cash-like instruments, and high-quality securities. Valkyrie will be limited by position limits set by the CME for ETH futures contracts. This application makes Valkyrie the sixth firm to seek approval for an ETH futures ETF.
Key Points:
- Valkyrie files application for Ether Futures ETF
- Fund will not directly invest in Ethereum, but will seek Ether futures contracts
- Users seeking direct exposure to ETH price should consider other investment instruments
- ETF will also invest in collateral investments such as cash and high-quality securities
- Valkyrie limited by position limits set by CME for ETH futures contracts
Hot Take:
With Valkyrie’s application, the race for an ETH futures ETF continues to heat up. As more asset management firms seek approval, it indicates positive expectations for the approval of spot Bitcoin ETF applications. While the Ethereum price has been on a downturn, Valkyrie’s recent filing has not had a significant impact on the cryptocurrency. Crypto readers should keep an eye on the developments in the ETF space as it could potentially provide new investment opportunities.
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