• Valkyrie has filed for an Ether (ETH) futures exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC).
• The fund will seek to buy several Ether futures contracts rather than making a direct investment in the cryptocurrency.
• Ethereum (ETH) price reacted minimally to the news and was trading at $1,819.73, down 0.96% in the last 24 hours.
Valkyrie Files For ETH Futures ETF
Valkyrie Asset Management Company has filed for an Ether (ETH) futures exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). This filing is an expansion of their prior decision to modify its Bitcoin futures ETF application which was accepted by the SEC in July.
The proposed ETF will seek to purchase several Ether futures contracts instead of making a direct investment in the cryptocurrency. The document states that Ether may be used as a medium of exchange or unit of account, although it has experienced significant periods of price volatility. It can also be used as a store of value, but it is still relatively limited when it comes to commercial and retail payments in both US and foreign markets.
Ethereum Price Reaction
The news about Valkyrie’s filing had minimal impact on Ethereum’s price which was trading at $1,819.73 at the time, down 0.96% in the last 24 hours.
Other News In Crypto
Recently Republic launched its self-custodial multi-chain wallet for tokenized assets while BitPay announced worldwide support for XRP boosting its bullish momentum. Additionally Volatility Shares is aiming to list its Ether Futures ETF on October 12th this year.
Overall Valkyrie’s filing for an ETH future ETF with the US SEC is yet another positive development in crypto space indicating potential growth potential for ETH investments as well as other digital assets such as Bitcoin and XRP etc