Valkyrie Introduces a Bitcoin futures fund with a 2x leverage

Valkyrie, an asset manager, has introduced a second exchange-traded fund (ETF) connected to Bitcoin futures, following its launch of a spot BTC ETF in January. The Bitcoin Futures Leveraged Strategy ETF is now available for trading on the Nasdaq with the ticker symbol BTFX, as announced on February 22. According to Valkyrie, this fund is a leveraged Bitcoin futures ETF that delivers investment results twice the performance of the CME Bitcoin Futures market on a scheduled basis. This release comes after Valkyrie previously introduced a similar investment product tied to Bitcoin futures, with the ticker symbol BTFD, on the Nasdaq. Notably, Valkyrie was one of the first asset managers authorized to list and trade shares of a spot Bitcoin ETF following approval from the United States Securities and Exchange Commission. CEO Leah Wald stated that with Bitcoin’s current prominence, traders and investors are exploring financial instruments to gain exposure to this market. Prior to the SEC’s approval of spot BTC ETFs on January 10, many asset managers utilized vehicles linked to Bitcoin futures to provide investors with cryptocurrency exposure. ProShares and Valkyrie were among the first firms to launch BTC futures ETFs in the U.S. in October 2021. The SEC has been postponing decisions on the approval or disapproval of a spot Ether (ETH) ETF, similar to what happened before the Bitcoin investment vehicle was approved. Experts anticipate that the regulator will make a decision by May 23, which marks the final deadline for a spot ETH ETF proposed by asset manager VanEck.