The second exchange-traded fund linked to Bitcoin (BTC) futures in the United States began trading on Nasdaq, opening at a price of $ 25.52 per share.
According to Nasdaq, the Digital Asset Manager’s Bitcoin Strategy ETF Valkyrie, the second exchange-traded fund allowing US investors direct exposure to cryptocurrency futures, opened at a price of $ 25.52 per BTF share before falling 3.3% to hit $ 24.66. at the time of publication of this report. The exchange-traded fund aims to track the value of BTC futures that are listed on the Chicago Mercantile Exchange, or CME.
“This Bitcoin Strategy ETF is a huge step forward for this asset class,” said Leah Wald, CEO of Valkyrie. “It enables investors to participate in the digital asset markets through a transparent and regulated product that is traded on a trusted market and can be bought and sold as easily as any other investment available today.”
The crypto fund on a major stock exchange is the second to launch this week after the opening of the ProShares Bitcoin Strategy ETF to list on the New York Stock Exchange on October 19. In less than a week, the fund has reached more than $ 1 billion in assets under management in addition to approaching the limit on the number of futures contracts allowed under the CME.
The Securities and Exchange Commission first accepted the registration application for the Valkyrie ETF on October 15, shortly after doing the same with ProShares shares.. The regulator still has several cryptocurrency ETF applications under consideration, and has only approved those with exposure linked to BTC futures.
According to data from Cointelegraph Markets Pro, Bitcoin’s price rose above $ 63,000 for the first time in months after ProShares ETF shares opened for trading on October 19, then hit a high. historic close to USD 67,000. Today, the price fell more than 3% after the opening of the markets, going from USD 63,449 to just USD 61,437.
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