Valkyrie, an asset management company, has begun purchasing contracts for Ethereum (ETH) futures. They received approval to transform their current Bitcoin futures exchange-traded fund (ETF) into an investment product that includes both Bitcoin and Ethereum, essentially a two-for-one offering.
On October 3, the fund’s name will be changed to the Valkyrie Bitcoin and Ether Strategy ETF.
As of now, the SEC hasn’t released a proposed rule change that would allow a new Ether futures ETF to be listed on the Nasdaq Stock Exchange.
However, they have issued an order for further evaluation regarding the Valkyrie Bitcoin Fund, which is an ETF focused on actual Bitcoin, not futures.
In an email statement today, a spokesperson mentioned that the Valkyrie Bitcoin Strategy ETF has started including investments in Ether futures contracts. This makes it the first ETF in the United States that allows investors to access both Ether and Bitcoin futures contracts in a single investment product.
Valkyrie was the first company to receive approval for an Ethereum (ETH) futures Exchange-Traded Fund (ETF) among several others.
They achieved this by improving their document that explains the ETF and by updating the information about the risks associated with Ethereum futures.