The Valkyrie Bitcoin futures ETF fell 3% in its first four hours of trading on Nasdaq


October 23, 2021
bitcoin cryptocurrency

While the price of bitcoin briefly rose above $63,000 during the launch of ProShares' Bitcoin Strategy ETF, its price fell below that day's level to $61,000.

The second BITCOIN (BTC) futures linked exchange traded fund in the United States began trading on Nasdaq, opening at $25.52 per share.

Digital asset manager Valkyrie's Bitcoin Strategy ETF, the second EXCHANGE-traded fund to allow U.S. investors to invest directly in cryptocurrency futures, opened at $25.52 per share, down 3.3% at launch, according to Nasdaq. To $24.66. The exchange traded fund is designed to track the value of bitcoin futures listed on the Chicago Mercantile Exchange.

"The Bitcoin Strategy ETF is a major leap forward for the asset class," said Leah Wald, Valkyrie'S CHIEF executive. It enables investors to participate in digital asset markets through regulated, transparent products that trade on trusted, reliable exchanges and can be bought and sold as easily as any other investment today.

ProShares' Bitcoin strategy ETF started trading on the New York Stock Exchange on Oct. 19, and the crypto fund is the second to launch this week. In less than a week, the fund has more than $1bn in assets under management and is nearing the maximum number of futures contracts allowed by the CME.

On Oct. 15, the SECURITIES and Exchange Commission accepted Valkyrie's ETF registration request for the first time, shortly after the SEC accepted Shares of ProShares. Regulators are still considering several crypto ETF applications and have approved only those related to BTC futures.

After the ProShares ETF opened trading on October 19, the price of bitcoin surpassed $63,000 for the first time in months, and later hit an all-time high near $67,000, according to Cointelegraph Markets Pro. Today, prices fell more than three percent