spot_imgspot_imgspot_img

Valkyrie Joins the Applicants for Ethereum Futures ETF

  • Asset management firm Valkyrie has applied to the US Securities and Exchange Commission (SEC) for an Ethereum futures exchange-traded fund (ETF).
  • The ETF will not directly invest in ETH. Instead, it aims to purchase various ETH futures contracts.
  • Valkyrie’s application specifies certain limitations on investing in Ethereum futures contracts for the ETF, limited to 8,000 contracts per month in accordance with position limits set by the Chicago Mercantile Exchange.

While investment giants await approval for a spot Bitcoin ETF, Valkyrie is not sitting idle; it has joined the queue for an Ethereum Futures ETF.

Valkyrie Applies for Ether Futures ETF

valkyrie

Asset management firm Valkyrie has applied to the US Securities and Exchange Commission (SEC) for an Ethereum futures exchange-traded fund (ETF). This application, made on August 16, indicates Valkyrie’s intention to expand its investment offerings beyond its Bitcoin futures ETF proposals.

The ETF will not directly invest in ETH. Instead, it aims to purchase various ETH futures contracts. Within the decentralized ecosystem, users widely utilize Ethereum’s native cryptocurrency, ETH, for peer-to-peer transactions.

The submitted document states that Ethereum’s classification may change and it may be considered a currency or digital commodity depending on its use in private transactions.

While some major and minor retailers accept ETH as payment, its use in commercial and retail transactions is relatively limited. Ethereum has also been marked by significant price fluctuations despite exhibiting characteristics of a store of value.

Asset management firm aims to expand beyond ETF proposal

Valkyrie’s application specifies certain limitations on investing in Ethereum futures contracts for the ETF, limited to 8,000 contracts per month in accordance with position limits set by the Chicago Mercantile Exchange. If the application is approved by the SEC, investors will have the opportunity to speculate on future prices of Ethereum through the ETF.

In addition to Ethereum futures, the ETF plans to invest its remaining assets in cash, cash equivalents, or high-quality securities, including bonds, stocks, treasury bills, money market funds, and corporate debt issued by the US government.

Notably, Valkyrie is one of several major asset management players seeking approval for an Ether futures ETF for US investors. Others include Grayscale, VanEck, Bitwise, Volatility Shares, ProShares, and Round Hill Capital.

The increase in these applications reflects widespread anticipation that US regulatory authorities may soon approve a Bitcoin ETF. Many investment giants such as BlackRock and Fidelity are also awaiting regulatory approval for their ETF proposals.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

EU Central Bank Asserts Bitcoin BTC’s Value Remains Zero Despite Rising Market Acceptance

Despite Bitcoin's surge past $64,000 and ETF milestones in the U.S., the European Central Bank steadfastly views the leading digital asset's value as non-existent, highlighting potential economic and environmental risks.

BlackRock’s Bitcoin ETF IBIT Set to Eclipse Gold with $10 Billion Milestone, Reshaping Crypto ETF Landscape

Amid Bitcoin's ascent past $60,000, BlackRock's IBIT ETF is poised to outpace traditional gold investments, signaling a significant shift in investor preferences towards digital currencies.

Coinbase Experiences Unprecedented Traffic Surge Amid Bitcoin BTC’s Rally to $64K

In an extraordinary display of digital currency enthusiasm, Coinbase's platform traffic overwhelmingly surpassed expectations, underscoring the growing mainstream acceptance of Bitcoin and other cryptocurrencies.

Jeff Bezos Sparks Bitcoin Investment Rumors: A New High-Profile Player?

The cryptocurrency community is abuzz with speculation that Amazon founder Jeff Bezos could be making a significant move into Bitcoin, following a series of financial maneuvers and a high-profile meeting with Michael Saylor.

Solana Trader’s Astounding 4,530x Return on WIF Ignites Crypto Community Buzz

A Solana trader's incredible return on investment with dogwifhat (WIF) captivates the crypto world, spotlighting the high-reward potential of meme coins within the Solana ecosystem.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

EU Central Bank Asserts Bitcoin BTC’s Value Remains Zero Despite Rising Market Acceptance

Despite Bitcoin's surge past $64,000 and ETF milestones in the U.S., the European Central Bank steadfastly views the leading digital asset's value as non-existent, highlighting potential economic and environmental risks.

BlackRock’s Bitcoin ETF IBIT Set to Eclipse Gold with $10 Billion Milestone, Reshaping Crypto ETF Landscape

Amid Bitcoin's ascent past $60,000, BlackRock's IBIT ETF is poised to outpace traditional gold investments, signaling a significant shift in investor preferences towards digital currencies.

Coinbase Experiences Unprecedented Traffic Surge Amid Bitcoin BTC’s Rally to $64K

In an extraordinary display of digital currency enthusiasm, Coinbase's platform traffic overwhelmingly surpassed expectations, underscoring the growing mainstream acceptance of Bitcoin and other cryptocurrencies.