Valkyrie Funds has announced the launch of its Bitcoin Strategy ETF (NASDAQ:BTF) with shares starting to trade today.
Let’s take a look at everything potential investors need to know about the Valkyrie Bitcoin ETF.
- Bitcoin Strategy ETF solely tracks the value of Chicago Mercantile Exchange (CME) Bitcoin futures.
- The goal of the fund is to offer investments in Bitcoin (CCC:BTC-USD) without investing in it directly.
- Valkyrie Funds says that those investing in the ETF have the benefit of extra regulations and transparency.
- It also seeks to gain the interest of more investors that are considering crypto as an option.
- The company notes that roughly 21 million Americans already own crypto.
- It also mentions that this number is expected to more than double to 51 million over the next year.
- Futures contracts from the fund are cash delivered and available from CME Group.
- Valkyrie also says that this fund is the first in a planned suite of ETFs focused on blockchain and digital assets.
Leah Wald, CEO at Valkyrie Funds, said this about the launch of the Bitcoin ETF today.
“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.”
BTFD stock was down 3.3% as of Friday morning.
Investors looking for more stock market and crypto news are in luck!
InvestorPlace has the covered with the latest happenings in both spaces. A few examples for today include this morning’s pre-market stock movers, as well as updates on Ripple (CCC:XRP-USD) and Shiba Inu (CCC:SHIB-USD). You can find all that info at the following links!
More Stock & Crypto News for Friday
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Ripple Watches as Former Partner Switches Allegiances
- Before You Buy Shiba Inu, Remember That Hope Is not a Strategy
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.