Valkyrie Funds announces the launch of the Bitcoin Strategy ETF with the ticker BTF on NASDAQ. The trading starts now, while the long-awaited ETF opens with 1.61% growth on the pre-market. The fund tracks the value of Chicago Mercantile Exchange (CME) Bitcoin futures and is designed to create more exposure to the cryptocurrency market.
Since Bitcoin and other digital assets became more popular among both retail and institutional investors, the fund decided to launch a regulated product that will be available on widely used and well-known platforms.
Investors will be able to become a part of the digital assets market by adding to their portfolios a regulated and transparent product that is already trading on the widely known exchange. The majority of traditional brokerages would also be able to give their clients exposure to the crypto market through newly presented products.
Bitcoin futures are already trading under the oversight of the CME and becoming more popular with the progressive development of the cryptocurrency industry. The fund's goal is to track the value of Bitcoin derivatives, which will allow BTF to provide exposure to a wider spread of retail and institutional investors.
With the approval of futures-backed Bitcoin ETFs, more traders will receive exposure to the crypto market in addition to marking a significant milestone for crypto derivatives.