Bitcoin ETF The Second Valkyrie To Go Live On Oct 22
Second Bitcoin ETF futures based Valkyrie will start trading on the NYSE on Oct 22 as the first ProShares ETF has started reaching its limit.
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Mere days after the first Bitcoin ETF ProShares went live, the NYSE is all set to welcome a second one from Valkyrie also. Its full name is Valkyrie Bitcoin Strategy ETF and the second futures based ETF has been planned to go live for trading under the BTF ticker on Oct 22. It was planning to use the BTFD ticker name (an acronym for Buy The Fucking Dip in crypto terminology), but appears to have reverted back to its original BTF.
Valkyrie’s #Bitcoin futures ETF confirmed to launch tomorrow: pic.twitter.com/pChTowpHvJ
This is good news as the massively popular and number two ETF by first day trading volume ProShares Bitcoin ETF, which saw a record $1B+ trading volume on its first day is fast reaching its limit. As such, Valkyrie will step in to fill the appetite for cryptocurrency based ETFs. The Valkyrie ETF annual operating expenses are 0.95%.
The second-ever U.S. Bitcoin futures ETF is set to launch on Friday. Valkyrie Funds CEO Lea Wald previews the launch https://t.co/0IE1VaXSwm pic.twitter.com/6bWApFSvr7
Other Bitcoin ETFs are planned to be approved soon, but popular opinion is more in favor of spot based ETFs, rather than their futures based counterparts. This precedent is likely to open doors for other cryptocurrency based ETFs also and will bring fresh money into the cryptocurrency space.
About Bitcoin ETF
The Bitcoin Exchange Traded Fund (ETF) is an investment channel that traces the administration of a special asset or collection of assets. ETFs enable investors to increase their investments without really buying the underlying asset. For those people looking to concentrate only on profits and losses, ETFs give a more manageable option to purchasing and exchanging personal assets.
Further, many traditional ETFs target more open boxes of signatures with something in common such as a focus on sustainability, for example, or assets describing any industry and associated companies, they enable investors to quickly increase their holdings.
Bitcoin ETF can enable fresh money to enter from the traditional finance space, since it reduces the entry barriers by allowing people to invest in this space through platforms and products, they are already familiar with. It exists on stock exchanges, allowing investors to access liquidity. The investors can also be certain about the tax implications and regulatory protection.
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