Valkyrie is looking to change the investment strategy of its current Bitcoin futures ETF in order to cover Ethereum futures contracts as well, in order to launch ahead of rivals.
Valkyrie Bitcoin Strategy ETF (BTF) Will Alter Its Investment Strategy
Valkyrie is looking to change the investment strategy of its current Bitcoin futures ETF in order to cover Ethereum futures contracts as well, in order to launch ahead of rivals.
Around October 3, the Valkyrie Bitcoin Strategy ETF (BTF) will alter its investment strategy through managed exposure to a combination of Bitcoin and Ether futures contracts.
The fund's ticker on the Nasdaq would remain the same, but its name would change to the Valkyrie Bitcoin and Ether Strategy ETF. Volatility Shares moved to do so on July 28 and sparked several funds to apply for Ether-related ETFs last week.
A post-effective adjustment to an existing open-end fund or investment trust can take up to 60 days to take effect, while a new open-end fund may do so in 75 days under SEC Rule 485(a).
Although the Valkyrie file puts it ahead of rivals in terms of its anticipated debut date, the SEC is not required by law to adhere to anyone's schedule. No matter which deadline might have put someone first, the SEC could approve all Ether-related ETFs on the same day.
