Valkyrie will follow ProShares as a bitcoin-linked exchange-traded fund. Bitcoin set a new all-time high earlier this week, but the rally may not be over yet, as alternative asset management firm Valkyrie is all set to introduce the second US bitcoin futures ETF after ProShares. The U.S. Securities and Exchange Commission (SEC) has finally cleared the ETFs offered by Valkyrie, giving the fund a notice of effectiveness. The Nashville, Tennessee-based firm has since said it will trade on the New York Stock Exchange (Nasdaq) under the BTF ticker.
according to a bloomberg report Confirming the approval, Valkyrie previously intended to trade its ETF under the ticker ‘BTFD’, but had to settle for ‘BTF’. If Valkyrie’s ETF debuts as success as ProShares’ ETF, the market could set new records by the end of the week. Increase in trading volume in bitcoin futures etf This could provide enough momentum to the market to break the $70,000 mark (approximately Rs 52,66,800).
The ProShares ETF, which debuted at the beginning of the week, was a huge success. The ETF emerged as the second largest traded ETF in a single day and clocked trade volume of $1 billion (approximately Rs 7,524 crore) on the first day and earned $570 million (approximately Rs 4,288.68 crore) in trade. next day.
The approval of the Valkyrie ETF was only a matter of time since the ProShares Strategy Bitcoin ETF was given the green light to launch on a US exchange. In addition to Valkyrie, Invesco, another independent investment management company, was also close to receiving its ETF approval to be among the first funds to be traded in the US.
But as soon as the ProShares ETF began trading, Invesco issued a statement saying it was no longer pursuing the Bitcoin Futures ETF. However, the firm said that an ETF was still a part of its future plans.
Investor excitement around US bitcoin ETF launch has helped fuel the world’s largest cryptocurrency A rally to the level of $67,000 (approximately Rs 50,41,080), in which since it cools A bit, but can be set to climb again.
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