Grayscale Wins Court Battle Against SEC, Regulator Must Review Bitcoin ETF Application
Valkyrie Investments co-founder Steven McClurg Sec kryptoin bitcoin trusts In addition to reviewing Valkyrie's amended prospectus, the SEC has authorized it to convert its Bitcoin futures ETF into a combined investment vehicle that involves both Bitcoin and Ether futures contracts.
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Valkyrie will begin to add Ether futures to its existing Bitcoin strategy ETF on Friday. The asset manager will allocate 10% of its fund to Ether initially, increasing this to 50% on Monday. Trending Crypto News The decision is expected to be quickly followed by approval of a host of Ether futures ETFs.
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This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Practical Law Legal Update w-039-9848 (Approx. 5 pages) Though many analysts have been predicting an Ether-futures ETF will be the next iteration to reach the market, the physically backed Bitcoin ETF remains the the Holy Grail product. The first application was filed in 2013 by the Winklevoss twins, who are known for getting rich off of Facebook Inc.
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The news does not come as a significant shocker as the SEC has now denied spot Bitcoin ETF filings from SkyBridge Capital, Kryptoin, VanEck, and WisdomTree. Xi Pledges to Strengthen Economic Recovery After ‘Tough’ Year Forbes. "Grayscale Wins Court Battle Against SEC, Regulator Must Review Bitcoin ETF Application."