Valkyrie Launched Another Bitcoin Futures ETF In The US

Valkyrie launched another Bitcoin futures ETF in the US as it announced it is awaiting a new approval from the SEC so let’s read more in our latest bitcoin news today.

Valkyrie launched another Bitcoin futures ETF in the US and its strategy is set to trade on the Nasdaq under the ticker BTF which will track the value of the Chicago Mercantile Exchange BTC futures. Futures contracts are financial contracts that have their value depend on or derived from an underlying reference asset. In the case of a BTC future, the underlying asset will be BTC. Tim McCourt, the Global Head of Equity Index and Alternative Investment Products at CME said:

“The approval of ETFs based on CME Bitcoin futures is a positive development for the broader Bitcoin ecosystem, and a reflection of the strong growth and client demand for exposure to Bitcoin.”

According to McCourt, the launch of a Bitcoin futures ETF marks an important step forward for the crypto derivatives and will be complementary to futures which will eventually create new opportunities for a broad array of institutional and retail investors. Valkyrie became the third investment company to receive corresponding approval from the US SEC after VanEck and ProShares. Proshares was the first one to launch a Bitcoin futures ETF in the US on the New York Stock exchange and it did it with great success as its strategy ETF traded $280 million worth of shares in 20 minutes. By the end of the tradign day, about $19 billion had been traded. VanEck’s BTC strategy ETF will also go live on the New York Stock Exchange next week.

VanEck’s product is a similar type of ETF which will provide the investors with a bigger exposure to the world’s leading crypto by allowing them to trade shares that represent contracts that bet on the future price of BTC. As we reported recently, Trading the VanEck ETF will start as soon as practicable after the effective date. The first Bitcoin ETF in the US has launched a day ago and it became quite popular. ProShares BTC ETF traded $280 million worth of shares in about 30 minutes and by the end of the trading day, about $1 billion had been traded. So now, the SEC approves VanEcks Bitcoin futures ETF in the wave of green lights.

Source: https://www.dcforecasts.com/bitcoin-news/valkyrie-launched-another-bitcoin-futures-etf-in-the-us/