Asset management giant Valkyrie has filed an application with the SEC for an Ether futures exchange-traded fund, according to an August 16 filing. This announcement follows Valkyrie’s previous endeavors of filing for a spot Bitcoin ETF.

Valkyrie just filed for an Ether Futures ETF, which is in addition to their 497 filing to do name/strategy of $BTF to Bitcoin + Ether Futures to get out early. Perhaps this is sign SEC not letting them do the ‘ole $MJ maneuver, not sure.. ht @NateGeraci pic.twitter.com/OeyGuyJP3y

— Eric Balchunas (@EricBalchunas) August 16, 2023

Ether, the digital token behind the Ethereum blockchain, has been gaining traction as an investment asset, a medium of exchange and a foundational element in decentralized finance applications.

However, Valkyrie’s proposal differs from the norm. Instead of offering direct investments in Ether, the proposed ETF will invest in Ether futures contracts. Such a strategy aims to provide investors with exposure to Ether’s price dynamics without the intricacies of holding the actual digital currency:

“The Fund will invest indirectly, via a wholly owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”), in standardized, cash-settled futures contr

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Author: Emily Tonelli

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