Share this article
Nasdaq Reveals Valkyrie Bitcoin Futures ETF Application
The investments manager said it confidentially filed for a bitcoin futures ETF months ago.
By Danny Nelson
Updated May 9, 2023, 3:23 a.m. Published Aug 24, 2021, 4:46 p.m.
The race to launch a bitcoin futures exchange-traded fund (ETF) for U.S. investors now has a (procedural) front-runner: Valkyrie Investments.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
On Tuesday, a surprise regulatory filing by Nasdaq to “list and trade shares” of the Valkyrie XBTO Bitcoin Futures Fund revealed the existence of the previously undisclosed ETF proposal, Valkyrie’s second that seeks to wrap bitcoin futures into an ETF.
In fact, it was really Valkyrie’s first; the firm said it confidentially filed for the product months ago.
The fact that it now has a partner exchange means the U.S. Securities and Exchange Commission can begin consideration of the product, moving Valkyrie closer to judgment day on a bitcoin futures ETF than every other hopeful issuer.
Read more: Crypto Asset Manager Valkyrie Files for Bitcoin Futures ETF
The SEC is also considering a handful of bitcoin ETF applications that are based on the underlying asset, rather than any futures markets.
It remains to be seen whether Valkyrie’s product can pass regulatory muster. Industry observers believe Gary Gensler’s SEC may look more kindly on a bitcoin futures ETF proposal than on the dozen or so ETF applications that would trade the asset itself.
“I think we're really the only ones out there that has a pure-play futures product,” said Valkyrie CIO Steve McClurg. He said the firm is partnered with XBTO for futures trading.
Read more: Gensler’s Preference for Bitcoin Futures Products Is Likely Bad News for a Spot BTC ETF
McClurg said the newly-revealed Valkyrie futures ETF is a so-called “33 Act fund,” referring to the Securities Act of 1933, that could invest its assets in bitcoin futures contracts exclusively. Many of the recent bitcoin futures ETF filings would be “40 Act” products, referring to the Investment Company Act of 1940, that would have to partly invest in fixed income or treasuries, he said.
All that regulatory minutiae could complicate the Valkyrie/XBTO fund’s path. Gensler has expressed interest in “40 Act” funds that he has said better protect investors than “33 Act” counterparts.
Gensler’s recent comments fueled a wave of tailor-made bitcoin futures ETF filings, including from Valkyrie, which earlier this month filed a 40 Act fund SEC.
Больше для вас
Что нужно знать:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
