Bitcoin ETF

Bitcoin

Valkyrie Investments introduces BTFX, a 2x leveraged Bitcoin futures ETF aimed at doubling the daily performance of the CME Bitcoin Futures index.
According to a press <a href="https://www.businesswire.com/news/home/20240222732872/en/Valkyrie-Launches-2x-Leveraged-Bitcoin-Futures-ETF-Offering-Investors-a-Way-to-Gain-Exposure-to-Bitcoin%E2%80%99s-Price-Action?_gl=1*1hnh7r1*_ga*MTk5NzAxMTcyNC4xNjE1Mjk5MTk4*_ga_ZQWF70T3FK*MTcwODYxMDU3Ny4zMTEuMS4xNzA4NjEwNjQxLjU2LjAuMA.." data-type="link" data-id="https://www.businesswire.com/news/home/20240222732872/en/Valkyrie-Launches-2x-Leveraged-Bitcoin-Futures-ETF-Offering-Investors-a-Way-to-Gain-Exposure-to-Bitcoin%E2%80%99s-Price-Action?_gl=1*1hnh7r1*_ga*MTk5NzAxMTcyNC4xNjE1Mjk5MTk4*_ga_ZQWF70T3FK*MTcwODYxMDU3Ny4zMTEuMS4xNzA4NjEwNjQxLjU2LjAuMA.." target="_blank" rel="noopener noreferrer nofollow">release</a>, BTFX seeks to achieve this objective by investing in Bitcoin futures contracts rather than directly in Bitcoin itself.
<a href="https://crypto.news/tag/valkyrie/" data-type="link" data-id="https://crypto.news/tag/valkyrie/" rel="noopener noreferrer nofollow">Valkyrie</a> Co-Founder Steven McClurg indicated that BTFX is tailored for institutional investors and hedge funds, emphasizing its non-direct investment strategy in Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>).
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 Valkyrie is pleased to announce the launch of the Valkyrie Bitcoin Futures Leveraged Strategy ETF ($BTFX), our 2x leveraged <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#bitcoin</a> ETF that gives traders a new option to gain exposure to bitcoin’s price action: <a href="https://t.co/lWl9zUKXxY" target="_blank" rel="noopener noreferrer nofollow">https://t.co/lWl9zUKXxY</a>— Valkyrie (@ValkyrieFunds) <a href="https://twitter.com/ValkyrieFunds/status/1760727611377160591?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 22, 2024</a>
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“The fund does not invest directly in Bitcoin. Rather, the fund seeks to benefit from increases in the price of Bitcoin Futures Contracts for a single day,” a <a href="https://www.sec.gov/Archives/edgar/data/1877493/000199937124002609/btfx-497k_022124.htm" data-type="link" data-id="https://www.sec.gov/Archives/edgar/data/1877493/000199937124002609/btfx-497k_022124.htm" target="_blank" rel="noopener noreferrer nofollow">filing</a> with the Securities and Exchange Commission (<a href="https://crypto.news/tag/sec/" data-type="link" data-id="https://crypto.news/tag/sec/" rel="noopener noreferrer nofollow">SEC</a>) stated.
In discussions about regulatory approval, McClurg revealed that the SEC initially exhibited hesitancy towards BTFX. However, the recent green light for <a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">spot Bitcoin ETF</a> funds by the SEC, including Valkyrie’s, has facilitated the approval process for BTFX.
“A leveraged Bitcoin ETF is easier for regulators to deal with than even Bitcoin spot because it’s all futures-based,” McClurg said.
Valkyrie has been developing BTFX for two years following its Bitcoin Futures ETF launch in 2021. Despite other issuers like <a href="https://crypto.news/tag/blackrock/" data-type="link" data-id="https://crypto.news/tag/blackrock/" rel="noopener noreferrer nofollow">BlackRock</a>, <a href="https://crypto.news/tag/fidelity/" data-type="link" data-id="https://crypto.news/tag/fidelity/" rel="noopener noreferrer nofollow">Fidelity</a>, and <a href="https://crypto.news/ethereum-rally-as-franklin-templeton-files-for-spot-eth-etf-etuktuk-also-gains/" data-type="link" data-id="https://crypto.news/ethereum-rally-as-franklin-templeton-files-for-spot-eth-etf-etuktuk-also-gains/" rel="noopener noreferrer nofollow">Franklin Templeton</a> exploring spot Ether ETFs, Valkyrie remains committed to the Bitcoin ecosystem.
Valkyrie CEO Leah Wald expressed the firm’s dedication to providing innovative financial instruments for Bitcoin exposure, emphasizing the importance of catering to the evolving interests of traders and investors in the digital asset space.
Read more: <a href="https://crypto.news/ethereum-dencun-spot-eth-etf/" rel="noopener noreferrer nofollow"> Ethereum hits $3k on Dencun, spot ETH ETF anticipation </a>

Valkyrie introduces Bitcoin Futures ETF offering 2x leverage

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