{"id":51643,"date":"2021-10-22T16:43:37","date_gmt":"2021-10-22T13:43:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51643"},"modified":"2025-09-03T00:55:03","modified_gmt":"2025-09-02T21:55:03","slug":"nasdaq-begins-trading-valkyrie-investments-futures-based-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nasdaq-begins-trading-valkyrie-investments-futures-based-bitcoin-etf\/","title":{"rendered":"Nasdaq begins trading Valkyrie Investments&#8217; futures-based Bitcoin ETF"},"content":{"rendered":"<p>On the Nasdaq stock exchange under the ticker BTF, Valkyrie Investments&#8217; futures-based Bitcoin-<span data-descr=\"exchange-traded fund\" class=\"old_tooltip\">ETF<\/span> began trading at $25.50.<\/p>\n<p>Against the backdrop of the launch, Bitcoin slipped below $62,800.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"458\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-10-22_16-54-34-1024x458.png\" alt=\"On the Nasdaq began trading Valkyrie Investments' futures-based Bitcoin ETF\" class=\"wp-image-153753\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-10-22_16-54-34-1024x458.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-10-22_16-54-34-300x134.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-10-22_16-54-34-768x344.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-10-22_16-54-34-1536x688.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-10-22_16-54-34.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>BTC\/USDT intraday chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The actively managed Valkyrie Bitcoin Strategy ETF is based on cash-settled Bitcoin futures on the Chicago Mercantile Exchange (CME). Its basket also includes micro futures on digital gold (one-tenth of BTC), which CME <a href=\"https:\/\/u1f987.com\/en\/news\/cme-group-to-launch-micro-bitcoin-futures\">announced<\/a> in May 2021.<\/p>\n<p>In a press release, the company noted that the structure is the first in a \u201cplanned lineup of exchange-traded funds designed to give investors exposure to the blockchain and digital-asset industry.\u201d<\/p>\n<p>Custody of client funds for BTF is handled by <a href=\"https:\/\/valkyrie-funds.com\/#fund-summary\">U.S. Bancorp<\/a>, the American financial holding company. Valkyrie <a href=\"https:\/\/sec.report\/Document\/0001387131-21-010113\/\">charges<\/a> a management fee of 0.95%. Its competitor \u2014 ProShares, which <a href=\"https:\/\/u1f987.com\/en\/news\/trading-starts-for-proshares-first-us-bitcoin-futures-etf\">launched its ETF on October 19<\/a>, \u2014 charges a similar fee.<\/p>\n<p>The asset-management company VanEck, which <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\">will launch<\/a> a futures-based Bitcoin ETF on Monday, October 25, has set lower ongoing charges \u2014 0.65%.<\/p>\n<p>Bloomberg analyst Eric Balchunas noted that in the first five minutes after launch, BTF&#8217;s trading volume reached $10 million. ProShares&#8217; fund over the same period on day one logged $30 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTF<\/a> up and running with a healthy $10m traded in first 5min, <a href=\"https:\/\/twitter.com\/search?q=%24BITO&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BITO<\/a> is at $30m. You have to be happy with that spread if you are <a href=\"https:\/\/twitter.com\/search?q=%24BTF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTF<\/a>, will be tough to keep up tho <a href=\"https:\/\/t.co\/03b3PCEsTx\">pic.twitter.com\/03b3PCEsTx<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1451543474998763535?ref_src=twsrc%5Etfw\">October 22, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Within an hour after launch, the fund\u2019s shares had fallen to $24.61. Trading volume reached 835,000 shares (~$20.5 million at the current price).<\/p>\n<p>Trading turnover of ProShares&#8217; ETF on the NYSE, data-descr=&#8221;New York Stock Exchange&#8221; amounted to 24.42 million shares on its first day, ranking second among all exchange-traded funds.<\/p>\n<p>The structure became the first ETF to require two trading sessions to surpass $1 billion. The previous record was set 18 years ago\u2014SPDR Gold Shares crossed that threshold in three days.<\/p>\n<p>As noted, the ProShares fund has nearly reached the CME&#8217;s maximum contract-volume limit under CME rules.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the Nasdaq stock exchange under the ticker BTF, Valkyrie Investments&#8217; futures-based Bitcoin ETF began trading at $25.50.<\/p>\n","protected":false},"author":1,"featured_media":51644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Nasdaq begins trading Valkyrie Investments' futures-based Bitcoin ETF (BTF) at $25.50.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[768,1211],"class_list":["post-51643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nasdaq","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"Nasdaq begins trading Valkyrie Investments' futures-based Bitcoin ETF (BTF) at $25.50.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51643"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51643\/revisions"}],"predecessor-version":[{"id":51645,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51643\/revisions\/51645"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51644"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}