Bloomberg ETF analysts, Balchunas makes predictions on Valkyrie’s futures-based Bitcoin ETF. More so, saying it will kick off trading this week.
Whereas, Commentators predicts that a second futures-based Bitcoin exchange-traded fund (ETF) will start by the end of the week. Of course, this is after the launch of ProShares’ Bitcoin Strategy ETF.
So, Bloomberg’s analyst Eric Balchunas on Oct 19 predicts that Valkyrie’s Bitcoin (BTC) futures-based ETF will launch in the coming days. Also, while noting its after getting certification for listing on the Nasdaq exchange last week.
Notably, this will historically make Valkyrie’s fund only the second Bitcoin ETF to launch in the United States. That is as ProShares’ futures-based ETF starts trading on the New York Stock Exchange under the ticker $BITO.
Formerly, James Seyffart, another Blomberg analyst predicts that Valkyrie’s Bitcoin Strategy ETF ($BTF) will go live same day as ProShares’ product.
Whereas, Balchunas tweets that Varlkyrie’s fund will “likely” launch on Oct. 20 or Oct. 21. Confirming that ProShares will have the “market to itself” for now.
“Update: Valkyrie not going live tomorrow. Likely looking to launch Wed or Thu tho,..”
“but we’ll see. Anyway, $BITO will have market to itself tomorrow.”
— Eric Balchunas (@EricBalchunas) October 18, 2021
More so, Balchunas confirms that Valkyrie ticker is changing from BTFD to BTF in its application.
Notably, Invesco goes out of race to launch futures-based Bitcoin ETF.
Invesco explains further,
“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.”
Meanwhile, Seyffart and Balchunas argues further that the approval of a spot BTC-backed ETF is unlikely to happen anytime soon. This discussion is during an Oct. 19 episode of Anthony Pompliano’s “Best Business Show,”
Lastly, Balchunas confirms that SEC chairman Gary Gensler is more “comfortable” with Bitcoin futures-based ETFs. Of course, this i.e. due to its greater consumer protections offerings. Especially, when in comparison with spot-backed
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