Valkyrie’s BTC ETF Goes Live On Nasdaq

Valkyrie has introduced the Bitcoin futures ETF thereof, which is a type of investment fund to track Bitcoin futures’ value. This fund counts to be the second as recently ProShares introduced the ETF of its own in the week.

Valkyrie ETF opens for trading

The fund was launched on 22nd October over Nasdaq having the ticker symbol BTFD. Valkyrie stated that Bitcoin futures are now turning out to be a progressively widespread vehicle for investment to benefit both the institutions as well as the individuals. It mentioned that the ETF thereof delivers exposure to many investors while posing no hurdles and pitfalls of making a direct investment. The ETFs (exchange-traded funds) provide a way for the investors to make their investments straightforwardly in Bitcoin (BTC) as well as its derivatives with no requirement to have a wallet for holding their respective Bitcoin, and there is no need to get registered with any retail exchange. The respective method allures institutional investors to be acquainted with the vehicles of traditional investment.

Market details disclosed

The fund of Valkyrie carries the charges of $0.95 or 0.95% on each investment of $100. This fee is similar to that charged by the ETF of ProShares. However, the upcoming ETF of VanEck focuses on charging a relatively low fee of up to 0.65%. Presently, BITO (the fund by ProShares) is out-competing BTFD (the fund by Valkyrie). Although the former possesses a regular high/low of almost $41.30/$38.90, the regular high/low of the latter is $25.50/$23.93. The day of trading has not been completed up till now, making it problematic to declare which fund is to appeal more. The fund of Valkyrie carried in approximately $10M in volume during the initial five minutes. On the contrary, ProShares brought in up to $570M during the time of its earliest day.

Futures ETFs witnessing an upsurge

The launch of today is the second in the queue of the freshly-approved futures ETFs of Bitcoin. The first company to launch a Bitcoin futures ETF was ProShares across the United States because the product thereof was launched on Tuesday, which is a day after the expected date. The Bitcoin futures ETF of VanEck will be the upcoming fund to be launched on 25th October, which is set to be in the next week. The value of Bitcoin Futures, rather than Bitcoin itself, is tracked by these ETFs.

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