Search Results for: Valkyrie Funds

Investment firms Invesco and WisdomTree are seeking approval for spot Bitcoin ETFs following initial rejections, arguing that a lack of such funds puts US investors at risk by resorting to unreliable digital asset accounts. The proposed spot ETFs would directly hold and track the price of physical Bitcoin, distinguishing them from futures-based ETFs reliant on futures contracts.

Multiple Bitcoin ETFs, including ProShares Bitcoin Strategy ETF (BITO) and Valkyrie Bitcoin Strategy ETF (BTF), witnessed a 5% jump in pre-market hours on Tuesday, indicating institutional buying and anticipation of a BTC price rally. The recent debt ceiling agreement between President Joe Biden and Republicans eliminated a 30% tax on Bitcoin mining, positively affecting markets.

The quest for a Bitcoin ETF faces regulatory hurdles; however, three crypto-related ETFs achieved over 100% YTD returns. NEOS proposed two funds aimed at reducing downside risk, while Grayscale filed for a Global Bitcoin Composite ETF. The future of cryptocurrency and blockchain technology relies on balancing innovation and regulation, preserving financial security and stability.

Valkyrie filed an application for a leveraged Bitcoin futures-based ETF, which differs from its existing BTF fund. With the SEC blocking attempts at a spot Bitcoin ETF, the debate over futures vs. spot-based ETFs continues, raising questions about the regulator’s understanding of the relationship between Bitcoin futures and the cryptocurrency’s spot price.