Valkyrie Bitcoin Strategy ETF begins on Friday with the trade
Valkyrie Bitcoin Strategy ETF begins on Friday with the trade
The Valkyrie Bitcoin Strategy ETF is to be traded on the Nasdaq exchange on Friday, October 22nd, just four days after the very first BTC Futures Fund.
Eric Balchunas, Senior ETF analyst from Bloomberg, confirmed that the Valkyrie Fund will be launched on Friday after it originally announced that he was traded today.
He added that the company also changed his ticker from BTFD to BTF and commented that the Securities and Exchange Commission was "probably not a fan" of the former. BTFD is an acronym for "Buy the F*CKING DIP" in crypto circles.
I said that this would start TMRW, it will actually be on Friday. I'm sorry for that. https://t.co/fqagwjgsco
- Eric Balchunas (@ericbalchunas) 20. October 2021
later a company representative confirms Bloomberg that the ETF should actually come onto the market on Friday.
Vaneck Bitcoin Fund on Monday
Just like Proshares, the Valkyrie product will not invest directly in Bitcoin, but will try to buy a number of BTC Futures contracts. You will try to ensure that the total value of the BTC, which is based on the FUTURES contracts held by the fund, is as close as possible with 100 % of net assets.
The next Bitcoin Futures Fund that is launched is The Vaneck Bitcoin strategy ETF which will probably record the retail on Monday, October 25th on the New York Stock Exchange under the Tickecker XBTF.
Measured by the performance of Proshares, these two could also have a high demand from institutional investors who want engagement in the world's largest digital asset.
The Fund ProShares achieved a record trade volume of $ 1 billion $ on its first day and is the second highest fund of all time.
The awards did not stop here, Bito has accumulated a billion dollars of assets under management (AUM) within the first two trading days. This new record was previously held by a gold-based fund that reached $ 1 billion after the first three days.
poetically appropriate
Balchunas compared it with gold, that it was poetic that one was BTC fund you should beat.
"The assets of $ Bito is up to $ 1.1 billion today, which makes it the fastest ETF, which is on 1 billion
"I've never seen anything like this. I bet, proshares is even shocked." - He added.
.