Valkyrie launched another Bitcoin futures ETF in the US when it announced it was awaiting new SEC approval. So keep reading on our latest bitcoin news today.
Valkyrie has launched another Bitcoin futures ETF in the US and its strategy is to trade on the Nasdaq under the ticker BTF, which tracks the value of Chicago Mercantile Exchange BTC futures. Futures are financial contracts whose value depends on or is derived from an underlying reference value. In the case of BTC futures, the base value is BTC. Tim McCourt, Global Head of Equity Indexes 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 reflects the strong growth and customer demand for Bitcoin engagement.”
According to McCourt, the introduction of a Bitcoin futures ETF represents an important step forward for crypto derivatives and will complement futures, which will ultimately create new opportunities for institutional and private investment for many traders. Valkyrie is the third investment firm, after VanEck and ProShares, to receive approvals from the US Securities and Exchange Commission. Proshares was the first company to launch a Bitcoin futures ETF in the US on the New York Stock Exchange, and it was a huge success as its ETF strategy took 20 minutes of stocks worth $ 280 million. Dollar traded. Around $ 19 billion was trading at the end of the trading day. VanEck’s strategic BTC ETF will also appear on the New York Stock Exchange next week.
VanEck’s product is a similar type of ETF that offers investors greater exposure to the world’s leading cryptocurrency by allowing them to trade stocks that represent contract bets on the BTC futures price. As we recently reported, VanEck ETF trading will start as soon as possible after the Effective Date. The first Bitcoin ETF in the US was launched a day ago and became hugely popular. The ProShares BTC ETF traded $ 280 million in stocks in about 30 minutes, and by the end of the trading day it was trading around $ 1 billion. Now the SEC has approved VanEcks Bitcoin Futures ETF in the green light.
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