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- Not long after the launch of its Bitcoin Spot ETF, Valkyrie deviated from a 2x Leveraged ETF.
- The fund is specially designed to bridge the gap between the traditional market and the digital asset market.
Valkyrie, a leading provider of the spot bitcoin exchange-traded funds (ETFs) now trading in the U.S. has shaken up the crypto space, with its most recent announcement. According to a press release shared by the digital asset investment management company, Valkyrie has officially launched a 2x Leveraged Bitcoin Futures ETF.
Per the announcement, the Valkyrie Bitcoin Futures Leveraged Strategy ETF is a leveraged Bitcoin futures ETF that is designed to track and measure the performance of the CME Bitcoin Futures market and is rolled on a scheduled basis.
The fund will go on to provide daily investment results, along with expenses and before fees that align with two times the daily performance of the S&P CME Bitcoin Futures Index. This will primarily be done through the firm’s investments in Bitcoin futures contracts.
The CEO of Valkyrie Leah Wald explained that the launch of BTFX represents the firm’s commitment to bringing innovative options for accessing Bitcoin and the entire digital asset ecosystem to investors.
“With Bitcoin so much in the focus right now, traders and investors are looking at how they can use financial instruments to tap into this space, and as a leader in digital-asset-focused ETFs, we wanted to be sure we provide them with a great fund.” Leah Wald added.
Valkyrie executives speak on the significance of BTFX
Asserting the importance of the fund, Steven McClurg, the CIO of Valkyrie noted that the fund is specially created to target investors who see past the traditional investment ecosystem. To do this, the fund will offer a strategic tool to capitalize on the volatility and growth prospects of the apex cryptocurrency Bitcoin.
Further explaining that the move speaks to Valkyrie’s long-term commitment towards merging the traditional market and the digital asset ecosystem, McClurg is quoted saying;
“It also showcases our commitment to delivering tailored digital asset products, providing our clients with the means to engage with the crypto market through a regulated, familiar format. It’s an exciting step for Valkyrie in our mission to bridge the gap between conventional financial markets and the burgeoning world of digital assets.”
The announcement comes not long after the firm successfully launched its spot Bitcoin exchange-traded product which is designed to serve investors, by producing them with direct, unleveraged exposure to Bitcoin.
Valkyrie, which currently boasts an estimated $1 billion in assets under management, is one of many institutions dedicated to serving institutional players in the traditional market.
The Valkyrie Spot ETF was approved in January, along with 10 other spot Bitcoin ETFs. All approved ETFs gained steam after the SEC’s approval, as combined shares trade totaled $4.6 billion a few days after going live.
