Bringing you live news and features since 2006 

Valkyrie launches bitcoin ETF on Nasdaq

RELATED TOPICS​

Valkyrie Funds, an emerging investment manager focused on the digital asset class, has launched the Bitcoin Strategy ETF (Nasdaq: BTF), an ETF designed to solely track the value of Chicago Mercantile Exchange (CME) bitcoin futures.

The firm writes that bitcoin and other digital assets are becoming an increasingly valuable part of peoples’ investing strategies. About 21 million Americans already own crypto, and that number is set to more than double to 51 million in the next year, according to a recent survey by Gemini. As more and more people become familiar and comfortable with this new asset class, they are seeking regulated products to invest in on platforms they currently use and enjoy.

“This Bitcoin Strategy ETF is a major leap forward for this asset class,” says Leah Wald, CEO at Valkyrie. “It enables investors to participate in the digital asset markets through a regulated, transparent product that trades on a trusted, reliable exchange and can be bought and sold as easily as any other investment currently available.”

Bitcoin futures are fully regulated in the US on the Chicago Mercantile Exchange and are becoming an increasingly popular investment vehicle for both individuals and institutions. The goal of this actively managed fund is to track the value of these products in a liquid basket of securities. The firm writes that by doing so, BTF provides exposure to a wider audience of investors, advisors and more, without the pitfalls and hurdles typically associated with investing directly in crypto assets.

“The approval of ETFs based on CME Bitcoin futures is a positive development for the broader bitcoin ecosystem, and a reflection of the strong growth and client demand for exposure to bitcoin via our transparent, deeply liquid and regulated futures contracts,” says Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. “The introduction of funds, like the Valkyrie Bitcoin Strategy ETF, mark an important milestone for crypto derivatives, and will be highly complementary to futures, creating new opportunities for a broad array of institutional and retail investors.”

The futures contracts held by the fund are cash delivered and available from CME Group. This fund is the first in a planned suite of ETFs from Valkyrie designed to enable investors to participate in the blockchain and digital asset space.
 

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by