Asset manager Valkyrie has received approval to convert its existing Bitcoin futures exchange-traded fund (ETF) into a unique investment vehicle that includes both Bitcoin and Ethereum futures contracts.
In a recent statement, a spokesperson from Valkyrie announced, “Today, the Valkyrie Bitcoin Strategy ETF (Nasdaq: $BTF) began adding exposure to Ether futures contracts, making it the first US ETF to provide exposure to Ether and Bitcoin futures contracts under one wrapper.”
This development sets Valkyrie apart as a pioneer in the ETF market, particularly in offering exposure to both Bitcoin and Ethereum futures within a single fund.
Valkyrie secured approval for this Ethereum futures ETF ahead of other firms by making necessary adjustments to its prospectus and updating risk disclosures related to Ether futures.
These changes reflect the company’s commitment to offering a diversified and dynamic investment strategy to its clients.
Starting on October 3, 2023, the fund’s new strategy will officially take effect. The ETF’s name will be updated to the Valkyrie Bitcoin and Ether Strategy ETF, while its ticker symbol will remain as BTF.
This move not only aligns with the growing interest in cryptocurrencies but also offers investors a convenient and comprehensive way to gain exposure to both Bitcoin and Ethereum through a single investment vehicle.