Cryptocurrency News

Valkyrie’s Bitcoin ETF is Ready for Trading

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The United States, along with many other countries, has been very sceptical of the idea of decentralization and the use of cryptocurrency for many years now. The stance of these countries never remained too negative but neither too positive as well. They had to see the amazing returns which crypto produced in comparison with other vehicles of investments such as stocks and forex, to come around the idea of decentralization.

The Securities and Exchange Commission did have a very similar exposure to the crypto industry; it is in charge of regulating digital assets, securities, and cryptocurrencies for the sake of making them better and efficient for people and investors. Back in the day, they were very bad instances trade-wise that made the crypto market suffer, and it might be the reason why SEC was not very linear with crypto adoption or giving the green light to a Bitcoin-oriented ETF.

Bitcoin ETF and SEC

It took several months for the Commission to come around crypto ETFs, and a few days earlier, the Securities and Exchange Commission approved the first-ever Bitcoin futures ETF. This ETF went into trading the very next day on the New York Stock exchange and was able to procure $1 billion in terms of initial investment from traders and investors all over the globe. The first try with the Bitcoin ETF was indeed a success, and this tempted the Securities and Exchange Commission to try out one of the several ETF applications they have under scrutiny and were pending. As a result and other Bitcoin futures, ETF has been approved and will start trading soon.

The Pro Shares Bitcoin strategy fund is the first-ever Bitcoin futures ETF in the United States, and it has already started trading on the New York Stock exchange. Following the first Bitcoin ETF, the Valkyrie Bitcoin futures ETF which is the second ETF to be ever approved by the Securities and Exchange Commission, will start trading on NASDAQ soon. It will be trading under the ticker BTF. The futures Bitcoin ETF is very different from a Bitcoin spot ETF or investing into the digital asset in a direct fashion. It allows the investors to tap into a very secure fund that isn’t directly shaken by the volatility of the crypto market but gets solid exposure to all the profit and increases in digital asset value, thus benefiting the traders.

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