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BITO to see competition Friday when Valkyrie launches market's second Bitcoin-strategy ETF

BITO to see competition Friday when Valkyrie launches market's second Bitcoin-strategy ETF


Seeking Alpha
2021-10-21 17:32:45
BITO to see competition Friday when Valkyrie launches market's second Bitcoin-strategy ETF

A second U.S. Bitcoin futures ETF will reportedly hit the market Friday, with the Valkyrie Bitcoin Strategy ETF (BTF) set to take on the hot new ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) then. The Valkyrie fund will trade under the ticker symbol "BTF," as reported by CoinDesk. BTF will be very similar to the new ProShares Bitcoin Strategy ETF (BITO) in that both will provide exposure to Bitcoin (BTC-USD) through the futures market. BITO went public Tuesday to strong demand as the first ETF approved to invest in Bitcoin futures. However, neither will invest directly in Bitcoin or other digital assets, as regulators still haven't approved that for U.S. ETFs. ProShares has had a few days to enjoy being first to market, but competitors are now just around the corner. Aside from Valkyrie, VanEck is set to launch its own Bitcoin-futures ETF in coming days. The new VanEck Bitcoin Strategy ETF (BATS:XBTF) will be available to investors

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