Approval incoming? Valkyrie becomes fourth firm to apply for BTC futures ETF
Asset managers apear hopeful the SEC will be more open to Bitcoin ETFs tied to futures contracts than those focused on the spot markets. Alternative financial services firm, Valkyrie Digital Assets, has become the latest company to file for a Bitcoin exchange-traded fund (ETF) offering indirect exposure to BTC via cash-settled futures contracts.According to a draft prospectus dated August 11, the Bitcoin futures contracts will be purchased via a Cayman Island-based subsidiary wholly owned by the fund via exchanges registered with the U.S. Commodity Futures Trading Commission.The prospectus....
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According to Bloomberg Senior ETF analyst Eric Balchunas there are “good signs” that the SEC will approve Bitcoin futures ETF applications from Ark Invest and Valkyrie. Bloomberg’s senior ETF analyst says there are “good” signs that a Bitcoin ETF will soon be approved, pointing to Ark Invest filing for a Bitcoin futures ETF with an assigned ticker and Valkyrie updating its own ETF prospectus with a ticker. Cathie Wood’s Ark Investment Management LLC filed for a Bitcoin (BTC) futures ETF under the ARKA ticker, while Valkyrie has assigned its BTC futures prospectus with the BTF ticker.....
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Bitcoin and crypto financial services firm Valkyrie Funds will become the second firm to launch a Bitcoin futures-based ETF in the United States.
Despite delisting VBB, Valkyrie still continues to manage the Bitcoin Strategy ETF and its Bitcoin futures ETF and the Valkyrie Bitcoin Miners ETF. Valkyrie Funds, a major cryptocurrency fund manager in the United States, will soon be liquidating one of its Bitcoin (BTC)-related exchange-traded funds (ETFs).The firm announced on Oct. 11 plans to close the Valkyrie Balance Sheet Opportunities ETF, a crypto investment product offering indirect exposure to BTC.The fund will be delisted from the Nasdaq Exchange as Valkyrie plans to liquidate the ETF on Oct. 31, 2022.According to the....
The SEC does not appear to have the appetite for more exotic Bitcoin futures products. Reports are emerging that the U.S. Securities and Exchange Commission has rejected one, or possibly two, recent Bitcoin exchange-traded fund applications signaling that the regulator is not quite ready for more exotic futures products just yet.Just a day or so after Valkyrie filed for a leveraged Bitcoin futures ETF and Direxion applied for an inverse fund for bears, the SEC appears to have vetoed them both.On Oct. 28, Bloomberg’s senior ETF analyst Eric Balchunas referred to a Dow Jones alert indicating....