Valkyrie Secures Go-Ahead for Bitcoin Futures ETF

Valkyrie Secures Go-Ahead for Bitcoin Futures ETF

Valkyrie Investments’s bitcoin futures exchange-traded fund (ETF) has won the blessing of the U.S. Securities and Exchange Commission, paving the way for the investment vehicle to launch soon.

The crypto fund manager filed its post-effective prospectus on Wednesday, signaling that its bitcoin-linked fund had cleared the final regulatory hurdles. It will trade as $BTF on Nasdaq despite short-lived plans to adopt the more meme-centric ticker $BTFD.

Valkyrie is only the third investment company – and the first crypto-native – to receive the Securities and Exchange Commission’s greenlight. The ProShares Bitcoin Strategy ETF (stock ticker BITO) launched Tuesday; VanEck’s own offering is slated to trade starting early next week.

Bitcoin spot markets rallied to new all-time highs Wednesday amid the filings parade. Bitcoin-linked ETFs are seen as an easy way for traditional investors to chase crypto market exposure from their brokerage accounts.

ProShares’ juggernaut fund debut indicated their interest runs deep. The first-ever U.S. bitcoin-linked ETF hauled in $570 million of assets in its first day, with over $1 billion in trading, one of the most successful ETF launches ever..

That’s complicated the playbook for all other bitcoin futures ETF hopefuls, including Valkyrie.

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