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(Reuters) – Asset supervisor Valkyrie has filed for an Ethereum Technique exchange-traded fund (ETF) that may spend money on ether futures and different collateral belongings, paperwork filed with the U.S. Securities and Change Fee confirmed on Wednesday.
After a brutal 2022, the cryptocurrency market is on a rebound as huge asset managers, together with BlackRock, discover the viability of the choice asset by planning to launch a string of derivative-based merchandise akin to ETFs.
ETFs that monitor the worth 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 second for cryptocurrencies on the time.
The regulator, nevertheless, has rejected dozens of purposes for spot bitcoin ETFs, citing insufficient degree of buying and selling surveillance that might go away the underlying spot market topic to fraud and manipulation.
(Reporting by Manya Saini in Bengaluru; Modifying by Anil D’Silva)
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