Valkyrie Bitcoin Futures ETF Launch Confirmed For Friday

Experts are unsure if Valkyrie will have the same explosive volume, and the demand from the market for this type of product may not be sustainable.

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Valkyrie CEO Leah Wald

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key takeaways

  • Valkyrie Bitcoin Strategy ETF will be the second of its kind to list in the United States
  • The issuer filed its pre-effective amendment Wednesday morning and has not yet filed its post-effective amendment

Valkyrie’s bitcoin futures-based exchange-traded fund is set to list on the Nasdaq on Friday, a spokesperson from the issuer said. 

Valkyrie Bitcoin Strategy ETF, first filed in August, will be the second of its kind to list in the United States. Its annual operating expenses are 0.95%. 

The listing date confirmation comes shortly after Valkyrie changed the name of its ticker from BTFD, an acronym praised by many crypto enthusiasts on Twitter, to BTF. The issuer filed its pre-effective amendment Wednesday morning and has not yet filed its post-effective amendment. 

ProShares futures-based product launched Tuesday and has already raked in over a billion dollars in assets, but it will not be investors’ only option for much longer. 

Experts are unsure if Valkyrie will have the same explosive volume, and the demand from the market for this type of product may not be sustainable. 

“I do think all of these futures-based ETFs are on borrowed time,” said Nate Geraci, president of the ETF Store. Ultimately, investors want spot products. But in the meantime, these ETFs are the next best option.”

VanEck, also in the futures-based product game, is expected to launch its ETF Monday, Oct. 25, according to its post-effective amendment filing released Wednesday. VanEck’s management fee will be 0.65%. 

“VanEck is launching with a lower fee, a prelude to the brutal competition that’s going to play out in this space,” said Geraci. 

In what will soon likely become a saturated market, fights over fees are to be expected from issuers going forward. 

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