Valkyrie Bitcoin Futures ETF Launching On NYSE Confirmed

0
87

The Valkyrie Bitcoin Strategy ETF will be just the second ETF of its sort to be listed on the New York Stock Exchange in the United States.
After submitting its pre-effective modification on Wednesday morning, the issuer is still waiting for the issuer to file its post-effective amendment.

According to a spokeswoman for the issuer, the Nasdaq is preparing to list Valkyrie’s bitcoin futures-based exchange-traded fund on the stock exchange on Friday.

According to the initial filing, the Valkyrie Bitcoin Strategy ETF will be the second of its kind to be listed on the New York Stock Exchange. The first was filed in August. It has a yearly operating expense of 0.95 percent of revenue.

It was confirmed that Valkyrie would be listed on the New York Stock Exchange after the company changed its ticker from BTFD to BTF, an acronym that was hailed by many cryptocurrency lovers on Twitter. After submitting its pre-effective modification on Wednesday morning, the issuer is still waiting for the issuer to file its post-effective amendment.

The ProShares futures-based product, which launched on Tuesday and has already gathered more than a billion dollars in assets, will not be the only alternative available to investors for long.

There is disagreement among experts about whether Valkyrie will have the same explosive volume as its predecessor, and the market demand for this product may not be sustained.
President of the ETF Store, Nate Geraci, believes that all futures-based exchange-traded funds (ETFs) are “on borrowed time.” At the end of the day, investors are looking for spot products. However, in the meantime, these exchange-traded funds (ETFs) are the most suitable option.”

An addendum to a post-effective amendment filing filed on Wednesday by VanEck, which is also engaged in the provision of futures-based products, stated that the fund’s initial public offering (IPO) will take place on Monday, October 25. The management fee for VanEck will be 0.65 percent of the company’s revenue.

As Geraci pointed out, “VanEck is making its debut with a discounted charge as a preview of the heated competition that will play out in this arena.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here