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<p class="is-style-lead">Asset manager <a href="https://crypto.news/valkyrie-submits-application-for-ether-futures-etf/">Valkyrie Funds</a> is gearing up to launch its <a href="https://crypto.news/learn/what-is-bitcoin-etf-and-which-companies-applied-for-it-in-the-us/">Bitcoin ETF</a>.&nbsp; </p> 
<p>In a recent tweet from James Seyffart, a research analyst with Bloomberg Intelligence, Valkyrie Funds updated its post-effective date for a leveraged Bitcoin Futures ETF. </p> 
<p>This product’s initial filing was made on May 15, Seyffart noted. However, the asset management firm has set its sights on a revised Oct. 20 launch date.</p> 
<h3 class="wp-block-heading" id="valkyrie-jockeys-for-position">Valkyrie jockeys for position</h3> 
<p>Valkyrie has thrown its hat into the ring alongside prominent asset management firms like <a href="https://crypto.news/us-sec-accepts-blackrocks-spot-bitcoin-etf-application/">BlackRock</a> and Fidelity, all vying for approval to introduce a spot Bitcoin ETF. </p> 
<p>This move signals a growing trend in the traditional financial sector, where established players are now eager to explore the potential of Bitcoin and other crypto assets</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Also NEW: <a href="https://twitter.com/ValkyrieFunds?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@ValkyrieFunds</a> updated their post-effective date for their leveraged <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> Futures ETF filing. They're expecting to launch on October 20th. This thing was originally filed on May 15, 2023 and will actively manage the exposure from 100-200% long BTC. <a href="https://t.co/7xv7P4tw9x" target="_blank">pic.twitter.com/7xv7P4tw9x</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1705259109065335233?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 22, 2023</a>
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<p>In June 2023, a Valkyrie subsidiary filed an updated spot ETF proposal. This revised proposal shifted the intended exchange to Nasdaq and updated the ticker to $BRRR. Valkyrie Investments already boasts a Bitcoin futures ETF product listed on Nasdaq.</p> 
<p>In October 2021, Valkyrie made waves by launching a Bitcoin futures ETF on the Nasdaq exchange, making it the second entity in the United States to introduce a Bitcoin futures ETF.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/scaramucci-bitcoin-etf-could-push-btc-price-high-2024/"> Scaramucci: Bitcoin ETF could push BTC price much higher in early 2024 </a> </p> 
<h3 class="wp-block-heading" id="institutional-interest-in-etfsgrowing">Institutional interest in ETFs&nbsp;growing</h3> 
<p>Valkyrie is not alone in pursuing a crypto ETF approval in the U.S., as other established players, including Invesco, WisdomTree, and Direxion, are also in the race.</p> 
<p><a href="https://crypto.news/blackrock-denies-buying-crypto-trading-platform-voyager-digital/">BlackRock</a>, the world’s largest asset manager, has also entered the spot in the Bitcoin ETF race, underscoring BTC’s rising acceptance and institutional interest.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/new-bitmex-market-lets-users-predict-fate-of-former-ftx-ceo-and-bitcoin-etf/"> New BitMEX market lets users predict fate of former FTX CEO and Bitcoin ETF </a> </p> 
<p>However, Bitwise, a crypto index fund manager, recently backtracked compared to Valkyrie. Bloomberg <a href="https://crypto.news/bitwise-withdraws-crypto-futures-etf-amendment/">reported</a> on Sept. 22 that the firm has withdrawn its application to convert its Bitcoin futures fund to a Bitcoin and Ethereum futures fund. This move implies that Bitwise’s fund will continue to focus solely on Bitcoin exposure.</p> 
<p> You might also like: <a href="https://crypto.news/grayscale-urges-sec-to-approve-its-spot-bitcoin-etf-filing/"> Grayscale urges SEC to approve its spot Bitcoin ETF filing </a> </p> 
<h3 class="wp-block-heading" id="gensler-still-not-supporting-crypto-etfs">Gensler still not supporting crypto ETFs</h3> 
<p>U.S. Securities and Exchange Commission (SEC) chair Gary Gensler was recently questioned about approving cryptocurrency spot ETFs during a Senate Banking Committee hearing on Sept. 12. However, Gensler emphasized the need for vigilant oversight of the crypto space while failing to answer clearly on crypto spot ETF approvals.</p> 
<p> Read more: <a href="https://crypto.news/learn/what-is-bitcoin-etf-and-which-companies-applied-for-it-in-the-us/"> What is Bitcoin ETF and which companies applied for it in the US? </a> </p>

Valkyrie eyes October launch for Bitcoin Futures ETF

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