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Quick Take
- As filings pour in for ether exchange-traded funds, Valkyrie is looking to get ahead of the competition by converting its Bitcoin Strategy ETF to a Bitcoin and Ether Strategy ETF.
Financial services firm Valkyrie has reportedly filed a 497 to convert its Bitcoin Strategy exchange-traded fund into a Bitcoin and Ether Strategy ETF on Oct. 3, 2023. In its current form, Valkyrie's Bitcoin Strategy ETF is an actively managed exchange-traded fund available through Nasdaq. It primarily invests in bitcoin futures contracts. Bloomberg Senior ETF Analyst Eric Balchunas noted on X (formerly Twitter) that Valkyrie's proposed date may be an effort to front-run the competition, stating that Oct. 3 "would be two weeks ahead of the other 13 filers' scheduled launch." Earlier on Friday, The Block reported that ProShares and Bitwise filed applications with the U.S. Securities and Exchange Commission for exchange-traded funds that offer exposure to both bitcoin and ether — adding to the ten then-already-existing ether futures ETF filings. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.