In Brief:
- Bloomberg Analyst, Eric Balchunas made a prediction about Valkyrie’s Bitcoin future-based ETF launch
- Bitcoin Exchange-traded fund (ETF) could go live by the end of this week
- If this happens, Valkyrie will become a second entity for Bitcoin-based ETF after Proshares
Crypto intellectuals and enthusiasts are hoping that Valkyrie will launch its Bitcoin exchange-traded fund (ETF) by the end of this week. If this is true, then it will become a second Bitcoin ETF, after today’s launch of Proshares’ Bitcoin Strategy ETF under the ticker of $BITO.
The news giant Bloomberg’s analyst Eric Balchunas had stated after the Valkyrie’s certification on the Nasdaq exchange that the expected launch of the Valkyrie’s future based Bitcoin ETF could be in the next few days.
Earlier, another Bloomberg analyst James Seyffart had made a prediction that Valkyrie could set in motion with induction of its Bitcoin ETF under the ticker of $BTF on the same day of Proshares ETF launch. But, later on, Balchunus posted a tweet about the possible launch of Valkyrie’s fund, in which he mentioned that it’s “Likely” to launch on Oct.20 or Oct.21.
Balchunas had also mentioned that Valkyrie changed the ticker for its ETF from BTFD to BTF in its application.
Amid the launch of the first Bitcoin Exchange Traded Fund (ETF) and greenlights for future ETFs from the Security and Exchange Commission (SEC), Invesco had withdrawn its application for its ETF on Oct 18, while many intellectuals expected that Invesco’s future ETF can receive approval from SEC.
“We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors a full shelf of products with exposure to this transformative asset class, including pursuing a physically-backed, digital asset ETF
Invesco is now planning for the launch spot Bitcoin ETF in collaboration with Galaxy Digital, a leading crypto dealer. The launch of Spot Bitcoin ETF will be an uphill task for Invesco as SEC chairman considers Bitcoin future-based ETF more “comfortable” than Spot ETF based on BTC.
