Valkyrie Funds has filed with the SEC for an Ethereum Strategy ETF.
While the Spot Bitcoin ETF was on the wane, Valkyrie ventured for Ethereum this time. The company has filed with the SEC for an Ethereum ETF.
Ethereum ETF application from Valkyrie
Valkyrie Funds has filed with the Securities and Exchange Commission for a new fund called the Ethereum Strategy ETF. This fund aims to provide capital appreciation to investors by investing in exchange-traded futures contracts on Ethereum and other collateral investments.
Valkyrie Funds already offers the Bitcoin Strategy ETF and the Bitcoin Miners ETF. The Ethereum Strategy ETF aims to generate returns for investors by investing in ether and futures contracts, including high-quality securities and collateral investments.
In the fund’s filing, “Ethereum and ETH futures are a relatively new asset class. They carry unique risks and have historically been subject to significant price fluctuations. The value of the investment could drop significantly, including going to zero.”
Valkyrie is also competing for a spot Bitcoin ETF. While the SEC has yet to approve a spot Bitcoin ETF, it has not approved funds investing in Bitcoin futures contracts.
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