Reports said that the second Bitcoin (BTC) futures-linked exchange-traded fund in the United States began trading on the Nasdaq, opening at a price of $25.52 per share.
It has been reported that according to the Nasdaq, digital asset manager Valkyrie’s Bitcoin Strategy ETF, the second exchange-traded fund allowing US investors direct exposure to cryptocurrency futures, opened at a price of $25.52 per share of BTF before dropping 3.3% to reach $24.66 as of October 22.
However, the exchange-traded fund is aimed at tracking the value of BTC futures listed on the Chicago Mercantile Exchange (CME).
Leah Wald, the CEO of Valkyrie, said:
"This Bitcoin Strategy ETF is a major leap forward for this asset class. 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."
The report said that the crypto fund on a major stock exchange is the second to launch this week after ProShares’ Bitcoin Strategy ETF opening for trading on the New York Stock Exchange on October 19. In less than a week, the fund has reached more than $1 billion in assets under management in addition to approaching the limit on the number of futures contracts allowed under the CME.
Likewise, the Securities and Exchange Commission first accepted the registration request for Valkyrie’s ETF on October 15 shortly after doing the same for shares of ProShares.’
The regulatory body still has several crypto ETF applications under consideration and has only approved ones with exposure linked to BTC futures. As per reports, the price of Bitcoin rose above $63,000 for the first time in months following shares of ProShares’ ETF opening for trading on October 19, later reaching an all-time high price approaching $67,000.
Thus, the price dipped more than 3% after markets opening, dropping from $63,449 to as low as $61,437.