SEC Approves First U.S. Ethereum Futures ETF: Valkyrie Launches Hybrid ETF

The U.S. Securities and Exchange Commission (SEC) has broken new ground by approving the first Ethereum Futures ETF in the United States.

Managed by Valkyrie Investments and reported by major news outlets, this landmark approval allows the existing Valkyrie Bitcoin Strategy ETF to also include Ethereum Futures.

Set to launch on October 3, 2023, find out how this pioneering step could open new avenues for crypto investments.

Addition of Ethereum to Existing Futures ETFs

The U.S. Securities and Exchange Commission (SEC) has approved an Ethereum Futures ETF managed by crypto asset management firm Valkyrie Investments.

The approval was confirmed through reports by media outlets such as FOX Business and Reuters.

The approval pertains specifically to a provision that allows the existing Bitcoin Futures ETF to also handle Ethereum Futures.

This marks the first time that an Ethereum Futures ETF (Exchange Traded Fund) has been approved in the United States.

Valkyrie already offers a Bitcoin Futures ETF called Valkyrie Bitcoin Strategy ETF (BTF). With the recent approval, this ETF will now also include Ethereum Futures as part of its investment strategy.

Consequently, the name of the ETF will be modified to "Valkyrie Bitcoin and Ether Strategy ETF," but there will be no changes to the existing ticker, which is "BTF".

It is reported that the newly updated "Valkyrie Bitcoin and Ether Strategy ETF (BTF)" is planned to be launched on October 3, 2023.

Increasing Approvals Anticipated as Multiple Companies Apply

Applications for Ethereum Futures ETFs have already been filed by multiple companies.

As of September 28, VanEck has also announced an Ethereum Futures ETF called "Ethereum Futures ETF (EFUT)," indicating that further approvals for Ethereum Futures ETFs are likely to follow.