- Valkyrie Bitcoin Futures ETF is going to be the second such product in the United States
- The product received a green signal from the US SEC on Thursday to be rolled out
- The launch is expected on Friday, on the platform of Nasdaq with the ticker name BTF
Valkyrie has been announced to be another firm following the path of ProShares. Recently, the United States has witnessed its first Bitcoin future exchange-traded product (ETF), as ProShares launched its Bitcoin Futures Strategy ETF. However, Valkyrie is another firm that has proposed to establish its ETF, and will soon follow ProShares’ path. Indeed, recently the news media outlet Bloomberg reported that the firm will list its crypto product on the platform of Nasdaq on Friday, October 22, 2021.
Valkyrie received a green signal for BTC ETF
The launch of Valkyrie Bitcoin Futures ETF will attain as the United States Securities and Exchange Commission (SEC) provided regulatory approval. With a notice of effectiveness, the product is finally effective. Moreover, the BTC Futures ETF is all set to start trading under the ticker name of BTF on the platform of Nasdaq. Following the launch announcement, Leah Wald, the CEO of Valkyrie Funds cited that the upcoming launch brings a vital milestone in the relationship between the crypto industry and the US financial regulators.
Certainly, the launch is essential for further affirmation that the US regulator is ready to collaborate with the industry. Indeed, the regulators are seeking to impose a ban prohibiting the use of such assets.
Valkyrie’s product will be similar to ProShares
ProShares Bitcoin Strategy fund tracks the Chicago Mercantile Exchange (CME) Bitcoin Futures. Ultimately, the factor causes a difference in the price and performance of the crypto products from the asset’s actual real-time price. Likewise, Valkyrie Bitcoin Futures ETF will also track the price and performance of Bitcoin futures contracts.
However, according to Wald, the more product that comes to market, the more awareness spreads. Ultimately, an increment in the adoption of such assets will be witnessed.
Will the upcoming ETF get the same volume?
Valkyrie Bitcoin ETF is going to be the second of its kind in the United States. Following the scenario, experts in the cryptosphere are not sure whether the upcoming product will see the same trend line. It is concerning whether the ETF will have the same explosive volume. Moreover, analysts and experts in the cryptosphere have deemed that the demand for such types of products may not stay sustainable in the longer time frame.
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