The second fund of Bitcoin (BTC) futures-traded contracts in the United States began trading on the Nasdaq, opening at $25.52 per share.
According to the Nasdaq Index, digital asset management Bitcoin strategy ETF Valkyrie, the second exchange-traded fund to allow US investors direct access to cryptocurrency, opened at $25.52 per BTF share before dropping 3.3% to 24.66 dollars at the time of publication. … an exchange-traded fund is designed to track the value of bitcoin futures contracts listed on the Chicago Mercantile Exchange (CME).
“This Bitcoin ETF strategy is a huge step forward for this asset class,” said Leah Wald, CEO of Valkyrie. “This allows investors to participate in the digital asset markets through a regulated and transparent product that is traded on a trustworthy and trustworthy exchange and can be bought and sold as easily as any other investment currently available.”
The major exchange’s crypto fund was the second to launch this week, after the ProShares Strategy ETF opened for trading on the New York Stock Exchange on October 19. In less than a week, the fund reached more than $1 billion. Assets Under Management Plus is approaching the maximum number of futures contracts allowed by the Chicago Mercantile Exchange.
The Securities and Exchange Commission first approved the application for registration of the Valkyrie ETF on October 15, shortly after doing the same with ProShares. The regulator is still reviewing several crypto ETF applications and only approved those related to BTC futures.
Related: Cointelegraph Consulting: Listed ETFs – What’s Next for Bitcoin?
According to data from Cointelegraph Markets Pro, the bitcoin price crossed $63,000 for the first time in several months after the ProShares ETF opened for trading, and later reached a record high and approached $67,000. Today, the price fell more than 3% after the markets opened, falling from $63,449 to $61,437.