Valkyrie bitcoin futures ETF prepare to go live

The SEC has now approved two bitcoin futures ETFs with another potentially due on Monday

                                
US Securities and Exchange Commission building (SEC) - Photo: Shtterstock
                                

The US Securities and Exchange Commission (SEC) has approved the Valkyrie Investments bitcoin futures exchange-traded fund (ETF).

The Valkyrie bitcoin futures ETF which will have the ticker BTF instead of the original BTFD, as BTFD is an acronym for “buy the f**king dip” in crypto circles.

Eric Balchunas, senior ETF analyst for Bloomberg said the “SEC probably wasn’t a fan of BTFD”. Balchunas announced the ETF will be going live on Friday 22 October.   

The Valkyrie bitcoin futures ETF will commence trading on the Nasdaq stock market.

Later, a company representative from Valkyrie confirmed that it is scheduled to launch on Friday.

VanEck bitcoin futures ETF to come Monday

The SEC is likely to approve another asset manager bitcoin ETF, with trading expected to begin on Monday. The VanEck bitcoin strategy ETF is likely to start trading next week.   

VanEck have said that the ETF will begin “as soon as practicable” after the effective date of the filing, Saturday, implying that it will go live on Monday.

The VanEck bitcoin strategy ETF offers exposure through cash-settled bitcoin future contracts traded on exchanges registered with the Commodity Futures Trading Commission (CFTC).

ProShares bitcoin futures’ ETF debut on NYSE hits $1bn volume

ProShares, a provider of ETFs, launched the first-ever bitcoin futures ETF on Tuesday 19 October.

The ProShares Bitcoin Strategy ETF, launched under the ticker BITO – reached $1b in total volume during its first trading session on the New York Stock Exchange (NYSE), already placing itself within the top 30% of ETFs by assets.

The BITO ETF closed its first trading session up by 4.85% at $41.94, reaching a $42 level in the after-hours session.

“BITO just about at $1b in total volume today. Easily the biggest Day One of any ETF in terms of ‘natural’ volume. It also traded more than 99.5% of all ETFs,” tweeted Balchunas.

ProShares CEO Michael L Sapir, said: “BITO will continue the legacy of ETFs that provide investors convenient, liquid access to an asset class.”

Further reading: Bitcoin futures: What are they and how do they work?

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