Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Digital Asset Manager Valkyrie Files for BTC Futures ETF

2 min read

Digital Asset Manager Valkyrie Files for BTC Futures ETF

The Nashville-based investment firm Valkyrie has filed its second attempt at a crypto-specific exchange-traded fund (ETF). 

The Valkyrie ETF Trust II “will not directly invest in BTC,” instead seeking to purchase BTC futures contracts traded on the Chicago Mercantile Exchange (CME), according to the investment firm’s Securities and Exchange Commission (SEC) filing.

The CME is currently the only regulated platform in the U.S. to offer this type of product. If approved, the fund will be listed on the Nasdaq exchange, according to the prospectus. 

American investors have been asking for a BTC ETF tied to the actual underlying instead for quite some time; however, the SEC is yet to approve any such product due to concerns of possible market manipulation.

Last week, the Commission’s chair Gary Gensler said that the regulator may eventually approve a BTC-focused ETF, albeit under strict rules and not necessarily one that would provide direct exposure to BTC. Instead, the SEC would rather favor ETFs tied to CME-traded BTC futures like Valkyrie’s.

Several firms, including Invesco and VanEck, moved to apply for such a product following Gensler’s remarks, with VanEck’s director of digital asset strategies, Gabor Gurbacs, telling Decrypt that a BTC futures ETF would have an “easier path to approval.”

This is Valkyrie’s latest attempt to launch such an investment vehicle. Earlier this year, the firm applied for an ETF that would target stocks from “companies that directly or indirectly invest in, transact in, or otherwise have exposure to BTC or operate in the BTC ecosystem.”


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published. Required fields are marked *