Valkyrie Bitcoin Strategy ETF is finally approved by the U.S. Security and Exchange Commission (SEC) and listed on New York Stock Exchange. After initially declining the initial application, the SEC has given the green light to this Future contract-based Exchange Traded Fund (ETF). After SEC approval, Valkyrie Bitcoin’s future ETF has become the 4th crypto-based ETF to be active in the stock exchange.
ETFs are an investment instrument that tracks the prices of certain indexes. Investing in ETF simply means investing in a basket of securities or stocks. The Valkyrie Bitcoin Future ETF (Nasdaq: BTF) is an actively managed ETF that invests users’ funds in the Bitcoin perpetual future contracts and is available for U.S. citizens to buy through any financial brokers.
This new crypto-based investing instrument will give exposure to the highly profitable Bitcoin to people who prefer not to be involved in the complexity of signing up on a cryptocurrency exchange. Users can directly invest in the Bitcoin futures contracts through their usual broker account and tap the exponential growth of Bitcoin. Moreover, it’s secure, easily accessible, and actively managed by expert fund managers.
It’s great news for the crypto community and a step towards its wider adoption. However, the SEC has yet to approve any Spot Bitcoin ETF. As per a Bloomberg report, SEC could approve a spot ETF, not before 2023.
Many countries have allowed Bitcoin to be listed on stock exchanges through ETF, along with the USA. Canada, Europe, and Latin American countries are leading this list.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.