A specialized alternative asset management firm, Valkyrie has introduced a new leveraged bitcoin product, the Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX), aiming to deliver twice the daily performance of the CME Bitcoin Futures index.
The ETF joined the market a month after the SEC approved various spot bitcoin ETFs, including those from Valkyrie, BlackRock, and Grayscale, following years of attempts by the crypto industry.
Leah Wald, Valkyrie’s CEO, said, “The launch of BTFX represents our commitment to bringing investors innovative options for accessing Bitcoin and the digital asset ecosystem as a whole,”
The move comes amid a surge in interest in Bitcoin, prompting traders and investors to seek financial instruments for exposure. BTFX faces competition from the Volatility Shares 2x Bitcoin Strategy ETF (BITX), which already boasts $350 million in assets.
Bloomberg’s Eric Balchunas notes the growing presence of leveraged spot bitcoin ETFs in registration, predicting potential challenges for futures-based counterparts.
With the cryptocurrency market evolving, Valkyrie aims to provide a compelling option for those looking to navigate the Bitcoin space through financial instruments like BTFX.
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