June 24, 2024
Valkyrie Unveils 2x Leverage Bitcoin Futures Fund
Latest Cryptocurrency News

Valkyrie Unveils 2x Leverage Bitcoin Futures Fund

Valkyrie, the asset manager, has introduced its second exchange-traded fund (ETF) tied to Bitcoin (BTC) futures, following its earlier listing of a spot BTC ETF in January. On February 22, Valkyrie announced the availability of shares for its Bitcoin Futures Leveraged Strategy ETF on the Nasdaq, identified by the ticker symbol BTFX. Described as a leveraged Bitcoin futures ETF, the fund aims to deliver investment results twice the “performance of the CME Bitcoin Futures market […] rolled on a scheduled basis.”

This move comes as Valkyrie continues to explore opportunities in the cryptocurrency space, having previously introduced a similar investment product linked to Bitcoin futures on the Nasdaq, identified by the ticker symbol BTFD—an apparent reference to the popular crypto phrase “buy the f***ing dip.” Valkyrie was notably among the first entities approved by the United States Securities and Exchange Commission (SEC) to list and trade shares of a spot Bitcoin ETF in January.

Leah Wald, CEO of Valkyrie, highlighted the growing interest among traders and investors in utilizing financial instruments to engage with the dynamic Bitcoin market, which has recently been a focal point for many.

Before the SEC’s groundbreaking approval of spot BTC ETFs on January 10, various asset managers turned to instruments linked to Bitcoin futures to provide investors with exposure to the cryptocurrency realm. Notably, both ProShares and Valkyrie were pioneers in launching BTC futures ETFs in the U.S. back in October 2021.

While spot BTC ETFs received regulatory approval, the SEC has consistently delayed decisions or extended deadlines regarding the approval or disapproval of a spot Ether (ETH) ETF, mirroring the situation preceding the approval of a Bitcoin investment vehicle. Observers anticipate that the regulator will decide by May 23, the final deadline for a spot ETH ETF proposed by asset manager VanEck. The ongoing developments underscore the evolving landscape of cryptocurrency-based financial instruments and the SEC’s role in shaping their regulatory framework.

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Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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