Valkyrie Makes a Move to Stay Ahead of the Crowd
Valkyrie has applied to the US Securities and Exchange Commission (SEC) to add ETH futures contracts to its Valkyrie Bitcoin Strategy ETF (BTF). This move sets Valkyrie apart from other competitors who have applied to launch their own Ethereum (ETH) Exchange-Traded Funds (ETFs). Valkyrie plans to introduce its double-barreled approach on or around October 3, putting its launch date ahead of others.
Key Points:
– Valkyrie has applied to the SEC to include exposure to ETH futures contracts in its existing investment strategy.
– Valkyrie plans to launch its ETH strategy on October 3, ahead of other competitors.
– The fund’s name is expected to change to Valkyrie Bitcoin and Ether Strategy ETF.
– The earliest other fund managers can launch their ETH ETFs is October 12, if their applications are approved.
– Valkyrie’s Bitcoin fund launch was not the first, which may have contributed to its lower assets under management compared to a competitor.
Hot Take:
Valkyrie’s move to include ETH futures contracts in its existing investment strategy shows its determination to stay ahead of the competition. By launching its ETH strategy ahead of others, Valkyrie aims to secure a first-mover advantage in the industry. However, the success of the ETF will ultimately depend on market demand and investor interest.
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