Ether Futures ETF Application Submitted by Valkyrie to U.S. Securities Regulator

Valkyrie, an asset management firm, has applied for an Ether futures exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission.

This move comes after Valkyrie adjusted its investment strategy for a Bitcoin futures ETF in compliance with regulations. The proposed Ether futures ETF won’t directly invest in Ether but aims to acquire ETH futures contracts. Ether is the native coin of Ethereum, used for transactions within the network. The ETF plans to invest the remaining assets in cash, cash-like instruments, and high-quality securities. The application specifies a limit of 8,000 contracts per month, in line with the Chicago Mercantile Exchange’s position limits.

If approved, investors could speculate on Ether’s future prices through these contracts. Other major asset managers, including Grayscale, VanEck, Bitwise, Volatility Shares, ProShares, and Round Hill Capital, have also filed for Ether futures ETFs. This trend follows expectations of potential approval for a spot Bitcoin ETF in the U.S., with firms like BlackRock and Fidelity seeking regulatory permission.

Clever Robot News Desk 18^th August 2023