Valkyrie launched a 2x leveraged Bitcoin futures fund

Asset manager Valkyrie has launched a second exchange-traded fund (ETF) linked to Bitcoin (BTC) futures, following the listing of the Spot BTC ETF in January.

In the year The asset manager uses the fund as a Bitcoin Futures ETF with double the investment results, according to CME's Bitcoin Futures Market Performance. […] It rolled on as planned.

The startup Valkyrie introduced a similar investment vehicle linked to Bitcoin futures to the Nasdaq under the ticker symbol BTFD. The asset manager was one of the first to be allowed to list and trade One Spot Bitcoin ETF shares in January after it was approved by the United States Securities and Exchange Commission.

Valkyrie CEO Leah Wald said, “With so much attention on Bitcoin right now, traders and investors are looking at how they can use financial tools to enter this space.”

Valkyrie 2x Bitcoin Futures ETF is launching $BTFX today, which will compete with $BITX, which already has $350m. That said, there are like 15 leveraged spot btc ETF's on registration, one or two of them will take off and make it harder for futures pic.twitter.com/wIoMXatS4F

— Eric Balchunas (@EricBalchunas) February 22, 2024

Related: Volatility Shares Trust aims to list leveraged Bitcoin futures ETF.

Before the SEC's landmark approval of spot BTC ETFs on January 10, many asset managers turned to vehicles linked to Bitcoin futures to provide investors with exposure to cryptocurrencies. ProShares and Valkyrie are some of the first firms to launch BTC futures ETFs in the US in October 2021.

The SEC continues to push deadlines or otherwise delay decisions before approval of a Bitcoin investment vehicle like the Spot Ether (ETH) ETF. Some experts expect the regulator to decide by May 23, the latest deadline for the ETH ETF from asset manager VanEck.

Magazine: Expect ‘broken records' in Bitcoin ETF: Brett Harrison (ex-FTX US), X Hall of Flame