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Seeking Alpha 2021-10-22 13:13:15

Valkyrie Bitcoin Strategy ETF to hit market Friday, rivaling popular BITO fund

Valkyrie Bitcoin Strategy ETF to hit market Friday, rivaling popular BITO fund

The Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) hits the marketplace today as the second Bitcoin strategy fund after ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) launched Tuesday. "This Bitcoin Strategy ETF is a major leap forward for this asset class," Valkyrie CEO Leah Wald said in announcing the ETF's launch. "It enables investors to participate in the digital asset markets through a regulated, transparent product that trades on a trusted, reliable exchange and can be bought and sold as easily as any other investment currently available." The actively managed ETF will provide market participants with the opportunity to gain exposure to Bitcoin (BTC-USD) through futures contracts. But just like its competitor fund BITO, BTF won't invest directly in Bitcoin or other digital assets, as officials still haven't approved that for U.S. ETFs. Bitcoin price action: -2.19% on Friday and +45.69% over the past month and +119.25% YTD. Next on the Bitcoin ETF front to launch appears to be the new

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