Following the launch of ProShares' Bitcoin Strategy Exchange-Traded Fund (ETF) Valkyrie will launch its Bitcoin (BTC) futures-based ETF.
The new ETF, Valkyrie Bitcoin Strategy, is set to start trading on Nasdaq under the ticker BTF on Friday.
The launch comes following approval of Valkyrie Bitcoin Strategy ETF by the Securities and Exchange Commission on Thursday.
Leah Wald, CEO of Valkyrie Funds, believes that the upcoming launch of Valkyrie's Bitcoin futures ETF represents a milestone in the relationship between crypto companies and federal regulators.
“This launch serves as confirmation that the U.S. government wants to collaborate with the industry rather than outright ban crypto assets,” she said.
There will be more awareness and, hopefully, more adoption as more products make their way to market. "There is no question that other products have been filed for and that they should be brought to market," Wald added.
ProShares' Bitcoin Strategy ETF, launched on Tuesday on the New York Stock Exchange, became the first Bitcoin ETF to be based on futures contracts.
A Bitcoin-linked ETF was also approved by the SEC earlier in October by Volt Equity, which allows investors to invest in companies that have significant exposure to the pioneer Crypto asset.
The bitcoin futures ETF provides investors with exposure to bitcoin prices without having to purchase the crypto directly. An exchange-traded fund (ETF) is a regulated financial product that represents a wide range of assets.
Like stocks, investors can buy and sell shares of the ETF. ETF shares, however, are tradable at any time during market hours, unlike mutual funds.