Investing in Web 3.0: Valkyrie Offers Exposure to Ether Futures

Valkyrie Offers Exposure to Ether Futures Through ETF

Asset management firm Valkyrie is providing investors in the United States with exposure to Ether (ETH) futures through its existing Bitcoin Strategy exchange-traded fund (ETF). A spokesperson for the firm told Cointelegraph on Sept. 28 that the BitcoinStrategy ETF will allow investors to access both Ether and Bitcoin (BTC) futures “under one wrapper”, making it one of the first companies to offer such a service.

The SEC has not yet published a proposed rule change allowing the listing of a new Ether futures ETF on the Nasdaq Stock Exchange. However, the commission released an order regarding “additional analysis” regarding the listing of the Valkyrie Bitcoin Fund, a spot BTC ETF.

Valkyrie filed an application with the SEC on Aug. 16 for a fund offering exposure to ETH futures contracts, rather than a direct investment in Ether. The firm also offers a Bitcoin Miners ETF, tracking securities of companies that derive their revenue or profits from crypto mining, and was one of the first companies in the U.S. to launch an ETF tied to BTC futures in 2021.

Starting Oct. 3, the fund’s name will be updated to the Valkyrie Bitcoin and Ether Strategy ETF, allowing investors to access both Web 3.0 companies and examples of Web 3.0 applications under one wrapper. This makes Valkyrie one of the leading companies providing investors with the opportunity to invest in Web 3.0 and learn how to access Web 3.0.

Analysts such as James Seyffart from Bloomberg Intelligence have suggested that Ether futures ETFs could be trading in the first week of October, potentially due to a potential U.S. government shutdown. If members of Congress cannot pass a bill to fund the government into the next fiscal year in time for President Joe Biden to sign it into law by September 30th, the SEC and other federal agencies will be operating with a reduced staff.

Up to this point, the SEC has not allowed any spot crypto ETF to be traded in the United States, but after Grayscale Investments successfully won the review of its spot BTC ETF in court, many experts think the SEC might change its stance. Valkyrie and other firms such as BlackRock have applications pending for spot crypto ETFs.