Valkyrie’s Bitcoin ETF is set to follow the explosive success of Proshares Bitcoin ETF, which is being traded under the ticker name BITO.
Valkyrie Investments has finally secured the much-awaited Bitcoin Futures ETF approval from the Securities and Exchange Commission (SEC). With this, the organization has become the third provider of a Bitcoin exchange-traded fund to have secured approval after clearing all the necessary regulatory issues and complications.
Valkyrie had first revealed its plan for a Bitcoin’s Future ETF in August and had also filed an 8-A key with SEC.
Valkyrie Investments to Use the Ticker Name BTF for Its ETF Instead of BTFD
Valkyrie dpokesperson has clarified that they will not be offering their ETF under the ticker BTFD which had previously garnered a lot of media attention due to its hilarious meme-centric quality. Along with Valkyrie, the Securities and Exchange Commission had formerly approved Proshares Bitcoin Futures ETF which had managed to generate $576million in terms of trading volume on its first day. Another Bitcoin Futures ETF by VanEck is also scheduled to trade starting next week.
Bitcoin-inspired ETFs have become a simple way for investors to trade in cryptocurrency using their existing brokerage accounts. These ETFs permit users to leverage the prices of Bitcoin without having to directly engage with the associated crypto. Along with that, these ETFs can hold a variety of investments including Bitcoin, stocks, and other financial assets which can help an investor diversify their portfolio in terms of trading and investments.
Valkyrie’s Bitcoin ETF is set to follow the explosive success of Proshares Bitcoin ETF, which is being traded under the ticker name BITO. ProShares Bitcoin exchange-traded fund had managed to cross the 1.1 billion mark within two days of trading, setting up a strong bar for other funds in the queue. The exciting response of investors towards the newly launched Bitcoin ETF is a powerful indication that investors are actively looking for more profitable alternatives that can promise them stable returns and revenue.
Founded in 2020, Valkyrie Investments is a specialized alternative asset management organization headquartered in Nashville, Tennessee, United States. The organization aims to converge the mechanisms of traditional finance management with the emerging cryptocurrency sector to streamline financial agreements for investors. The company had recently diversified its service portfolio by introducing Zilliqa Trust based on the Zilliqa blockchain, which is one of the fastest-growing blockchain networks at present.