Valkyrie has filed for an Ethereum Strategy exchange-traded fund (ETF) that will invest in ether futures and other collateral assets, paperwork filed with the US Securities and Exchange Commission showed on Wednesday. After a brutal 2022, the cryptocurrency market is on a rebound as big asset managers, including BlackRock, explore the viability of the alternative asset by planning to launch a string of derivative-based products such as ETFs.
ETFs that track the price of bitcoin futures contracts have been allowed by regulators since October 2021. The greenlighting of the ETF by the SEC was seen as a watershed moment for cryptocurrencies at the time.
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