Valkyrie just filed for an ETH futures ETF with the U.S. SEC

• Valkyrie already resubmitted its Bitcoin futures ETF with the SEC.
• Valkyrie is the first company to file for an ETH futures ETF in the U.S.
• Ethereum (ETH) price reacted minimally to the news and was trading at $1,819.73, down 0.96% in the last 24 hours.

Asset management company Valkyrie has filed for an Ether (ETH) futures exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). In accordance with the filing made on August 16, the application represents an expansion of the business’s prior decision to modify its Bitcoin futures ETF application which the SEC accepted in July.

According to the application, the fund will seek to buy several Ether futures contracts rather than making a direct investment in the cryptocurrency. Ether, the native token of the Ethereum blockchain, is utilized for decentralized network peer-to-peer transactions.

Valkyrie just filed for an Ether Futures ETF, which is in addition to their 497 filing to do name/strategy of $BTF to Bitcoin + Ether Futures to get out early. Perhaps this is sign SEC not letting them do the ‘ole $MJ maneuver, not sure.. ht @NateGeraci pic.twitter.com/OeyGuyJP3y

— Eric Balchunas (@EricBalchunas) August 16, 2023

According to the application document, “Ether may be regarded as a currency or digital commodity depending on its specific use in particular transactions. Ether may be used as a medium of exchange or unit of account, although a number of large and small retailers accept ether as a form of payment in the United States and foreign markets, there is relatively limited use of ether for commercial and retail payments. Similarly, ether may be used as a store of value […], although it has experienced significant periods of price volatility.”