Summary
TLDR: Valkyrie is launching a 2x leveraged bitcoin futures ETF called BTFX, designed for institutional investors and hedge funds. The ETF operates by investing in Bitcoin futures contracts to provide two times the daily performance of the CME Bitcoin Futures market. The SEC was hesitant about the proposal but approved it after giving the green light to spot bitcoin ETFs. Valkyrie has been working on BTFX for two years and remains focused on the Bitcoin ecosystem.
Key Points
1. Valkyrie is launching a 2x leveraged bitcoin futures ETF.
2. The Valkyrie Bitcoin Futures Leveraged Strategy ETF will trade under the ticker BTFX.
3. “BTFX operates by investing in Bitcoin futures contracts, with the objective of providing, before fees and expenses, two-times the daily performance of the Index, which is designed to measure the performance of the CME Bitcoin Futures market and is rolled on a scheduled basis,” a press release announcing the fund explained.