Valkyrie Files for Ethereum ETF With US Securities Regulator

U.S.-based plus manager Valkyrie is requesting regulatory support from the U.S. Securities and Exchange Commission (SEC) for an ether futures exchange-traded money (ETF). The determination follows the acceptance by the SEC of Valkyrie’s exertion for a spot bitcoin ETF past month.

Asset Manager Valkyrie Seeks Regulatory Nod for Ether Futures ETF

Tennessee-headquartered plus absorption steadfast Valkyrie is applying for authorization for an “Ethereum Strategy ETF” that volition put successful ether futures and different collateral assets, Reuters reported quoting documents filed with the U.S. securities regulator.

The submission comes amid accrued interest from well-established players successful the assemblage successful launching crypto-based ETFs, which has go a origin for optimism successful the crypto abstraction aft a hard twelvemonth for the full integer assets industry.

U.S. regulators allowed ETFs tracking the terms of bitcoin (BTC) futures successful 2021 and the archetypal bitcoin futures-based exchange-traded money began trading successful October of that year. Expectations that the merchandise could summation investments successful crypto assets boosted marketplace prices astatine the time.

However, authorities successful the United States are yet to o.k. a spot bitcoin ETF, thing that Canada, for example, has already done. The SEC has successful the past rejected a fig of applications for specified ETFs but successful mid-July of this twelvemonth agreed to reappraisal 1 filed by fiscal powerhouse Blackrock.

Soon aft that, the Commission formally accepted Valkyrie’s spot bitcoin ETF exertion arsenic well. The company, which was already offering a bitcoin futures ETF, submitted its exertion for its “Valkyrie Bitcoin Fund” connected June 21, days aft the filing for Blackrock’s “Ishares Bitcoin Trust.”

Last week, Galaxy Digital CEO Mike Novogratz revealed that the U.S. SEC could o.k. a spot bitcoin exchange-traded money wrong six months. Meanwhile, London-headquartered institution Jacobi Asset Management introduced Europe’s archetypal spot bitcoin ETF connected the Euronext Amsterdam exchange.

Do you expect the SEC to o.k. Valkyrie’s exertion for an ether futures ETF? Tell america successful the comments conception below.