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Valkyrie Bitcoin futures-linked ETF launches on Nasdaq, with share prices dropping 3% in first hour

The first Bitcoin ETF is now available for trading on the Nasdaq. The company offers investors a much lower risk by linking their investments in bitcoin to an index, not directly to Bitcoins themselves. This strategy has been used before–in other words, many see it as nothing new or groundbreaking

The “Valkyrie Bitcoin futures-linked ETF launches on Nasdaq, with share prices dropping 3% in first hour” is a story about the launch of an ETF that tracks the price of bitcoin. The issue brought down the price of bitcoin by 3%. Read more in detail here: what are etfs stocks.

 

On the Nasdaq, the second Bitcoin (BTC) futures-linked exchange-traded fund in the US started trading at a price of $25.52 per share.

According to Nasdaq, Valkyrie’s Bitcoin Strategy ETF, the second exchange-traded fund providing U.S. investors direct exposure to bitcoin futures, began at $25.52 per share before sliding 3.3 percent to $24.66 at the time of writing. The BTC futures offered on the Chicago Mercantile Exchange, or CME, are tracked by the exchange-traded fund.

Valkyrie CEO Leah Wald commented, “This Bitcoin Strategy ETF represents a big move forward for this asset class.” “It allows investors to engage in the digital asset markets via a regulated, transparent product that trades on a reputable, dependable exchange and can be purchased and sold just like any other investment now accessible,” says the company.

Following ProShares’ Bitcoin Strategy ETF, which began trading on the New York Stock Market on Oct. 19, the crypto fund on a major stock exchange is the second to debut this week. In less than a week, the fund has surpassed $1 billion in assets under management and is on the verge of exceeding the CME’s maximum amount of futures contracts.

The Securities and Exchange Commission approved Valkyrie’s ETF registration request on Oct. 15, only a few days after ProShares’ shares were approved. Several crypto ETF applications are still being considered by the regulator, and only those with exposure to BTC futures have been accepted.

Related: ETFs Listed — Cointelegraph Consulting What does the future hold for Bitcoin?

Following the introduction of ProShares’ ETF for trading on Oct. 19, the price of Bitcoin climbed over $63,000 for the first time in months, according to data from Cointelegraph Markets Pro, before hitting an all-time high price above $67,000. Following the opening of the markets today, the price dropped more than 3%, from $63,449 to $61,437.

Related Tags

  • new etfs
  • how is the stock market doing
  • what’s etf mean

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