Ethereum

Bitcoin Cash

Bitcoin

James

<div class="watcher-guru"> 
 <p>The SEC has been delaying its decisions regarding spot Bitcoin ETFs in the U.S. However, this has not stopped companies from expanding their ETF offerings. Valkyrie received approval to convert its existing Bitcoin futures ETF to a two-for-one investment vehicle. Now, the company has started buying Ethereum futures contracts.</p> 
 <p>The fund’s new strategy to combine BTC and ETH will formally come into force on Oct. 3, 2023. The ETF name will change to Valkyrie Bitcoin and Ether Strategy ETF. Nevertheless, the ‘BTF’ ticker will not see any updates. By adding Ethereum exposure to futures contracts, Valkyrie becomes the first U.S. ETF to provide investors exposure to Ether and Bitcoin futures contracts under the same umbrella.</p> 
 <p>A spokesperson for the company revealed that <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a> was the first to get approval for the ETH Futures <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a>, among other firms. This was because it “supplemented its prospectus and updated risk disclosures related to Ether <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a>.”</p> 
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 <p><strong>Also Read: Chainlink’s 33% Recovery May Trigger Positive Q4 2023</strong></p> 
 <h3 class="wp-block-heading" id="h-etf-race-is-heating-up">ETF Race is Heating Up</h3> 
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 <p>In another parallel development that recently took place, asset manager <a rel="noopener noreferrer nofollow" title="VanEck" href="https://thebittimes.com/tag/vaneck.html">VanEck</a> revealed that it has been preparing for the launch of its Ethereum Strategy <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a> [EFUT]. This <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a> is designed to seek capital appreciation by investing in Ether <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a> contracts.&nbsp;However, it is essential to keep in mind that EFUT will not invest in ETH or other digital assets directly. The Fund will invest in standardized, cash-settled ETH <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a> contracts traded on commodity exchanges registered with the CFTC. The <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a> will be listed on the CBOE.</p> 
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  <img decoding="async" width="1024" height="568" src="https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp" alt class="wp-image-114212" srcset="https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp 1024w, https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp 300w, https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp 768w, https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp 380w, https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp 550w, https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp 800w, https://cdn.thebittimes.com/images/2023/09/29/3295a9080e957f577bdc7cb7d5e74e1a.webp 1100w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: Business Insider 
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 <p><strong>Also Read: Bitcoin Cash Up 8%: Can Bulls Push BCH to $250?</strong></p> 
 <p>Bloomberg’s Eric Balchunas asserted that “VanEck is officially effective!” According to the Senior ETF analyst, the launch is imminent and could happen by Monday, October 2. Bloomberg’s James Seyffart was also on the same page. </p> 
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    <p lang="en" dir="ltr">UPDATE: @vaneck_us has officially filed an updated prospectus for their #Ethereum Futures ETF. $EFUT. Thinking it might mean this fund will be ready to trade as early as Monday? pic.twitter.com/oOGFOpEPyK</p>— James Seyffart (@JSeyff) September 28, 2023 
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 <p><strong>Also Read: PYUSD: Crypto.com Partners With PayPal, Paxos</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>bitcoin</li> 
  <li>ETF</li> 
  <li>ethereum</li> 
  <li>futures</li> 
  <li>Valkyrie</li> 
  <li>VanEck</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/2-for-1-etf-valkyrie-buys-ethereum-futures-for-bitcoin-etf-tbt64452.html">https://thebittimes.com/2-for-1-etf-valkyrie-buys-ethereum-futures-for-bitcoin-etf-tbt64452.html</a></p>

2 For 1 ETF: Valkyrie Buys Ethereum Futures for Bitcoin ETF

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