Latest Crypto News Valkyrie’s Bitcoin Futures ETF Is Now Live on Nasdaq

Latest Crypto News Valkyrie’s Bitcoin Futures ETF Is Now Live on Nasdaq thumbnail

Newest Crypto Information

Newest Crypto Information The fund is the second of its sort after ProShares’ launched its personal ETF earlier this week.

Key Takeaways

  • Valkyrie has launched its Bitcoin futures ETF beneath the ticker BTFD.
  • The ETF is the second of its sort. ProShares launched an identical ETF this Tuesday; VanEck will achieve this subsequent week.
  • These funds monitor the worth of Bitcoin futures. There’s nonetheless no U.S.-based ETF that tracks the worth of Bitcoin itself.

Valkyrie has launched its Bitcoin futures ETF, an funding fund that tracks the worth of Bitcoin futures.

Newest Crypto Information Valkyrie ETF Is Stay

The fund went dwell on Friday, Oct. 22, beneath the ticker BTFD on Nasdaq. The acronym was chosen to counsel “Bitcoin futures” in addition to the meme dealer catchphrase “purchase the f—ing dip.”


Valkyrie famous that Bitcoin futures are “changing into an more and more standard funding car for each people and establishments” and stated that its ETF gives publicity to extra buyers “with out the pitfalls and hurdles” of direct funding.

Trade-traded funds or ETFs present buyers with a approach to put money into Bitcoin and its derivatives not directly, with out the necessity to maintain Bitcoin in a pockets and with out the necessity to register with a retail trade. This strategy appeals to institutional buyers who’re extra conversant in conventional funding autos.

Newest Crypto Information Market Particulars Revealed

Valkyrie’s fund carries a payment of 0.95%, or $0.95 on each $100 invested. That payment is equal to ProShares’ ETF payment, although VanEck’s upcoming ETF goals to offer a decrease payment of 0.65%.

At present, ProShares’ fund (BITO) is outperforming Valkyrie’s fund (BTFD). Whereas the previous has a every day excessive/low of $41.30/$38.90, the latter has a every day excessive/low of simply $25.50/$23.93.

The buying and selling day has not but concluded, making it tough to say which fund can have extra enchantment. Valkyrie’s fund introduced in $10 million of quantity inside the first 5 minutes. ProShares, in contrast, introduced in $570 million over the course of its first day.

Newest Crypto Information Futures ETFs Are on the Rise

Right this moment’s launch is the second in a sequence of newly-approved Bitcoin futures ETFs. ProShares was the primary firm to launch a Bitcoin futures ETF in america as its product went dwell on Tuesday, in the future later than anticipated.

VanEck’s Bitcoin futures ETF would be the subsequent fund to go dwell. It’s anticipated to launch subsequent week on Monday, Oct. 25.

These ETFs all monitor the worth of Bitcoin futures, not the worth of Bitcoin itself. Thus far, there may be nonetheless no true Bitcoin ETF in america that tracks the market worth of Bitcoin.

Disclaimer: On the time of scripting this creator held lower than $100 of Bitcoin, Ethereum, and altcoins.

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