Valkyrie’s Bitcoin Strategy ETF drops more than 4% on its first listing-Proshares ETF drops 3.5%-Market Update Bitcoin News

On Friday, the Valkyrie Bitcoin Strategy Exchange Traded Fund (ETF) was listed on the Nasdaq under the ticker symbol BTF, and its value fell shortly after the ETF was first launched. The second Bitcoin ETF launched in the United States followed the trend of Bitcoin’s spot price on Friday, as the BTF opened at a price higher than $25 and then fell slightly above the $24 mark.

Compared with the debut of the first Bitcoin ETF, the initial market performance of Valkyrie’s Bitcoin ETF is lackluster

Valkyrie’s Bitcoin futures ETF It was officially launched on Friday and reached a high of $25.60 per unit at around 9:00 am Eastern Time. Senior ETF Analyst at Bloomberg Information, Eric Balciunas, Posted a tweet about Valkyrie ETF a few minutes before the transaction.

“BTF is up and running with a healthy trading volume of US$10 million [the] First [five minutes], BITO is 30 million U.S. dollars. If you are a BTF, you must be satisfied with this spread, [it] Will be hard to keep up [though], “Barcunas Said.

Valkyrie's Bitcoin Strategy ETF drops more than 4% on its first listing — Proshares ETF drops 3.5%
Valkyrie’s Bitcoin Futures ETF (BTF) will be held at 3:41 PM (EDT) on Friday, October 22, 2021. At 4:15 pm, BTF successfully climbed to $24.30 before the market closed.

As the spot price of Bitcoin fell before the weekend, the stock subsequently fell. BTF hit a low of $23.96 per unit, and over time, it was slightly higher than $24.

Valkyrie's Bitcoin Strategy ETF drops more than 4% on its first listing — Proshares ETF drops 3.5%
Valkyrie’s Bitcoin futures The ETF (BTF) will be held at 3:50 PM (EDT) on Friday, October 22, 2021.

Proshares ETF Bitto It also followed the spot market price of Bitcoin, falling below US$40 to US$39.39, down 3.5%. Bitcoin The spot market fell from $63,735 per unit in the morning (EDT) to a low of $59,954 on Bitstamp at 12:15 in the afternoon.

Vaneck Bitcoin exchange-traded fund expected to fall on Monday

Bitcoin In the trading session on Friday afternoon, it successfully recovered to the middle position of 60,000 US dollars per unit. After the amazing market performance of Proshares ETF last week, a large number of Bitcoin enthusiasts were excited about the launch of Valkyrie’s Bitcoin futures ETF.

“Valkyrie… the floor is yours,” the Twitter account was called “UK HODL” Said on Friday. “Two Bitcoin ETFs are open for trading today. Let the corporate hunger game of Bitcoin distribution begin,” he added.

Valkyrie's Bitcoin Strategy ETF drops more than 4% on its first listing — Proshares ETF drops 3.5%
Proshares Bitcoin Futures ETF (BITO) on Friday, October 22, 2021 at 3:56 PM (EDT).

After the weekend, the crypto community next week expect Vaneck Bitcoin Futures Exchange Traded Fund (ETF) will be launched on Monday. After years of rejection by the US Securities and Exchange Commission (SEC), three Bitcoin-related ETFs will appear on Wall Street.

Valkyrie's Bitcoin Strategy ETF drops more than 4% on its first listing — Proshares ETF drops 3.5%
Proshares Bitcoin Futures ETF (BITO) at 3:50 PM (EDT) on Friday, October 22, 2021.

With Vaneck’s fund, two ETFs will be listed on the New York Stock Exchange (NYSE), while Valkyrie’s Bitcoin futures ETF will be listed on the Nasdaq.Just before the close on Friday, Valkyrie Bitcoin Successfully climbed above the $24.30 area. The BTF rose at the end of the trading day on Friday, immediately following the rise in the Bitcoin spot price Bitcoin Each unit increased from 60,600 USD to 61,150 USD.

What do you think of the ETF launched by Valkyrie on Friday? Please tell us your thoughts on this topic in the comments section below.

Tags in this story

Bitcoin, Bitcoin spot market, Bitto, Bitcoin, Eric Balciunas, ETF, ETF analyst, ETF performance, Ethereum, Exchange Traded Fund, Market dynamics, Professional stocks, Securities and Exchange Commission, Valkyrie, Valkyrie Bitcoin Strategy ETF, Vanek

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