Valkyrie Bitcoin Strategy Fund, the 2nd Bitcoin futures ETF in the US, is ready to begin trading today. Furthermore, VanEck’s Bitcoin futures ETF is anticipated to launch early sometime next week.
ProShares Bitcoin Strategy Fund, the first US Bitcoin futures ETF, began trading Tuesday on the NY Stock Exchange, exceeding expectations. Trading volume reached nearly US $1 billion on the first day! According to Bloomberg strategist Eric Balchunas, the Proshares Bitcoin Strategy Fund is currently in the top 30% of ETFs by assets. The launch of the ETF helped push Bitcoin to a new all-time high after beginning to trade just over US $67,000 on Wednesday, according to CoinGecko data.
Now, Valkyrie Bitcoin futures ETF, the country’s 2nd Bitcoin-linked ETF, is set to begin trading on Nasdaq today under the ticker BTF. Like ProShares, it is a Bitcoin futures ETF, not confused with a Bitcoin place ETF or investing straight in the digital asset itself.
VanEck’s Bitcoin futures ETF is likewise in line to premiere early next week. Not too long ago, VanEck announced that the Securities and Exchange Commission had authorized trade to begin after October 23. Being Saturday, the fund is anticipated to go live Monday on the NYSE, perhaps sometime early next week.
Several Bitcoin futures ETFs are waiting to begin trading. The Bitcoin futures ETFs are quickly obtaining authorization after Gary Gensler, the chairman of the US Securities and Exchange Commission, stated in August that the SEC will possibly consider approving ETFs connected to Bitcoin future agreements.
Wilson is a successful crypto analyst and content writer with many years of writing experience in finance and blockchain fields. His interests are in crypto-asset research and technical analysis, Fintech, Blockchain, DeFi, NFTs, and Personal Finance.