REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - Investment manager Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the U.S. Securities and Exchange Commission (SEC), the company said on Thursday.
The renamed Valkyrie Bitcoin and Ether Strategy ETF (BTF.O) will launch on Monday, Valkyrie's chief investment officer Steven McClurg told Reuters.
Rival asset managers VanEck and ProShares are looking to offer pure ether futures ETFs, in contrast to Valkyrie's hybrid ETF.
The SEC's decision to drop long-held objections to ether futures ETFs is a boost for the crypto industry, which has been pushing the agency to expand the types of crypto ETFs they can offer.
Media reports that the SEC was poised to approve ether futures ETFs appears to have been boosting the token's price.
Persons:
Dado Ruvic, Bitcoin, Steven McClurg, McClurg, VanEck, Steve Sosnick, Suzanne McGee, Michelle Price
Organizations:
REUTERS, U.S . Securities, Exchange Commission, SEC, Strategy, Reuters, Media, Interactive, Thomson