Valkyrie Launches Second Bitcoin Futures ETF in US

Digital asset manager Valkyrie has announced the launch of its Bitcoin futures ETF following approval from the SEC. Read the full article by: Andrew Asmakov

Key Points:

• After almost a year of making applicants wait for a response on their BTC ETF applications we now have had two launch this week alone. Today Valkyrie launched their Bitcoin Strategy ETF on the stock market under the ticker symbol BTF.

• This is similar to the ProShares ETF that was introduced on Monday in the fact that it will be tied to the futures contract of BTC. The main difference between the two is that Valkyrie’s will track the futures contracts of the Chicago Mercantile Exchange (CME).

• "The approval of ETFs based on CME Bitcoin futures is a positive development for the broader Bitcoin ecosystem, and a reflection of the strong growth and client demand for exposure to Bitcoin,” said Tim McCourt, Global Head of Equity Index and Alternative Investment Products at CME.

• Next week we will be getting our third ETF to hit the market this time it will be the VanEcks. Soon we also may see Ethereum futures ETFs start to pop up but a spot ETF of BTC will be the next big milestone for crypto in the regular markets.