Author: Mike Dalton, CryptoSlate; Compiler: Song Xue, Jinse Finance

**Valkyrie Investments has filed to set up an Ethereum futures exchange-traded fund (ETF), as revealed in a filing with the U.S. Securities and Exchange Commission (SEC) on August 16. **

** According to the filing, nearly all of the fund’s assets will be invested in exchange-traded ethereum futures, while a small portion will be invested in collateral investments such as cash, cash-like instruments or high-quality securities. The text of the document emphasizes that the fund’s assets will not be invested in Ethereum (ETH) itself. **

Valkyrie's filings suggest that the fund's ability to invest may be limited by regulations set by the Chicago Mercantile Exchange (CME). These limits currently limit ETH futures positions to 8,000 contracts per month. Each contract represents 50 ETH (currently $91,100). If those limits are met, the fund may invest in longer-dated futures contracts and additional collateral investments, Valkyrie said.

**Valkyrie had previously attempted to combine its Bitcoin futures ETF (dubbed the “Bitcoin Strategy ETF”) with Ethereum futures in an Aug. 4 filing. If approved, the filing would see Valkyrie integrate the two investments and rebrand the fund accordingly starting Oct. 3. **

The status of that application and its connection to more recent filings has not been clarified in the filing.

Interest in cryptocurrency ETFs is high

This summer, ethereum futures ETFs attracted widespread interest from asset managers. Volatility Shares, Bitwise, ProShares, VanEck, Roundhill and Grayscale have all applied for ethereum futures ETFs in recent weeks.

At the same time, there is broader interest in cryptocurrency ETFs, as Valkyrie and many others are also pursuing spot bitcoin ETFs. Valkyrie filed with the SEC on June 21, days after asset management giant BlackRock filed the same. As of now, no U.S.-based firm has been approved to offer a spot bitcoin ETF, reportedly due to insufficient regulatory sharing agreements.

Valkyrie is also one of the first companies to launch a bitcoin futures ETF in October 2021. It also offers various other cryptocurrency-related investments.