Valkyrie Investments, a well-known figure in the investment scene, is preparing to launch the first exchange-traded fund (ETF) in the United States that encompasses Ethereum futures.
FOX Business brought this news to light and, starting tomorrow, investors will be able to invest in the future price of the second most valued cryptocurrency globally, Ethereum. The Securities and Exchange Commission (SEC), the regulatory body for financial markets in the United States, gave its approval, making Valkyrie the first of nine issuers to achieve this achievement.
Now, you may ask yourself, “Why is this relevant?” Well, an ETF, by its nature, offers a diversified way to invest in a particular sector or asset, and in the case of cryptocurrencies, it can attract even more institutional investors to the space. Furthermore, having an ETF approved, especially in the United States, reflects a degree of trust and legitimacy in the world of cryptocurrencies, which was previously viewed with suspicion by many traditional investors.
Ethereum, as many know, is more than just a cryptocurrency. It is the backbone of many decentralized projects and smart contracts. Therefore, this new ETF is not only a way to bet on the future value of Ethereum itself, but also on the potential that the technology behind it has to revolutionize the financial and technological world.
As trading begins tomorrow, many eyes will be on this ETF’s performance. The launch of the Valkyrie ETF represents another positive step towards a more inclusive and digital financial future.
At the time of publication, the price of ETH was quoted at US$1,657.71, up 4% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.