Cryptocurrency money manager Valkyrie Digital Assets has changed the ticker of its Bitcoin futures exchange-traded fund from “BTF” to “BTFD.”
OMG, it looks like Valkyrie changed their ticker to $BTFD, they must of have listened to Twitter bc that was like all over my replies every time we talked about $BTF. Talk about an instant classic. pic.twitter.com/aMcfOKnu91— Eric Balchunas (@EricBalchunas) October 18, 2021
The slang acronym, which stands for “buy the f*****g dip,” has been overused in the crypto space by proponents who encourage others to purchase more crypto during market corrections.
For instance, when MicroStrategy CEO Michael Saylor announced another $10 million buy in May, Blockstream CEO Adam Back commented that the former was sure to “BTFD.”
See I told youse @michael_saylor was sure to be BTFD. https://t.co/aKxSZF12Zf— Adam Back (@adam3us) May 18, 2021
For Bitcoiners, a dip is not just a reminder to stack more sats: it’s their mentality and way of life.Hence, many praised Valkyrie for the marketing move that will make it stand out among a slew of competitors.
As reported by U.Today, ProShares will launch the very first Bitcoin futures ETF this Tuesday.
Analysts expect that Valkyrie’s Bitcoin (BTC) futures-based ETF will also go live by the end of this week.