Valkyrie Bitcoin and Ether Strategy ETF gains SEC approval for increased Ethereum futures exposure

Valkyrie, an investment firm, has received approval from the SEC to increase its exposure to Ethereum futures contracts in its Bitcoin futures ETF. The change will take effect on October 3, and the fund's name will be updated to Valkyrie Bitcoin and Ether Strategy ETF. However, Valkyrie has stated that it will not purchase ether (ETH) futures until the SEC's approval of adding ether futures to its Bitcoin Strategy ETF is effective. This move by Valkyrie comes as it aims to offer ether futures exposure in an ETF, beating other competitors in the race. It is worth noting that some experts suggest Valkyrie may have acted prematurely, as others are expected to offer similar exposure soon.