Valkyrie Bitcoin Strategy ETF’s First Listing Drops More Than 4% – Proshares ETF Slips 3.5% – Bitcoin Market Updates News

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On Friday, the exchange-traded fund (ETF) Valkyrie Bitcoin Strategy was launched on the Nasdaq under the symbol BTF and lost value shortly after the ETF exited. The second bitcoin ETF to launch in the United States tracked bitcoin spot price movements on Friday, as BTF started the day above $ 25 and fell to just over $ 24.

Valkyrie Bitcoin ETF Initial Market Performance Poor Compared to Bitcoin ETF First Launch

Valkyrie Bitcoin Futures ETF officially launched on Friday and peaked at $ 25.60 per unit around 9:00 a.m. (EDT). Senior ETF Analyst for Bloomberg Intelligence, Eric Balchunas, tweeted about Valkyrie’s ETF after the first few minutes of trading.

“BTF operational with a good amount of 10 million dollars exchanged [the] first [five minutes], BITO is at $ 30 million. You must be happy with this spread if you are BTF, [it] will be difficult to follow [though], “Balchunas noted.

Valkyrie Bitcoin Strategy ETFs First List Drops More Than 4% - Proshares ETF Slips 3.5%
The Valkyrie Bitcoin Futures ETF (BTF) on Friday, October 22, 2021 at 3:41 p.m. (EDT). At 4:15 p.m. BTF managed to climb to $ 24.30 just before the closing bell.

The stock then lost value as it followed the spot price of bitcoin’s decline ahead of the weekend. BTF hit a low of $ 23.96 per unit and as the day progressed it rose above the $ 24 grip.

Valkyrie Bitcoin Strategy ETFs First List Drops More Than 4% - Proshares ETF Slips 3.5%
Valkyrie Bitcoin Futures ETF (BTF) on Friday, October 22, 2021 at 3:50 p.m. (EDT).

The Proshares ETF BITO also followed the spot market price of bitcoin and fell below the $ 40 mark to $ 39.39, down 3.5%. BTC spot markets fell from $ 63,735 per unit in the morning (EDT) to a low of $ 59,954 on Bitstamp at 12:15 p.m. in the afternoon.

Vaneck Bitcoin exchange-traded fund set to drop on Monday

BTC managed to climb above the average position of $ 60,000 per unit during Friday afternoon trading sessions. A large number of bitcoin enthusiasts were excited to see the launch of the Valkyrie bitcoin futures ETF after the Proshares ETF had a phenomenal market performance last week.

“Valkyrie … the floor is yours”, the Twitter account nicknamed “British HODL” noted Friday. “2 Bitcoin ETFs for trading open today. Let the corporate hunger games for bitcoin allocations begin, ”he added.

Valkyrie Bitcoin Strategy ETFs First List Drops More Than 4% - Proshares ETF Slips 3.5%
Proshares bitcoin futures ETF (BITO) on Friday, October 22, 2021 at 3:56 p.m. (EDT).

After the weekend is over next week, the crypto community expects the Vaneck Bitcoin Futures Exchange Traded Fund (ETF) to launch on Monday. After years of rejections from the United States Securities and Exchange Commission (SEC), there will be three bitcoin-linked ETFs on Wall Street.

Valkyrie Bitcoin Strategy ETFs First List Drops More Than 4% - Proshares ETF Slips 3.5%
Proshares bitcoin futures ETF (BITO) on Friday, October 22, 2021 at 3:50 p.m. (EDT).

Along with Vaneck’s fund, two ETFs will be listed on the New York Stock Exchange (NYSE) and the Valkyrie bitcoin futures ETF is listed on the Nasdaq. Just before the closing bell Friday, Valkyrie’s BTC managed to climb above the $ 24.30 region. The rise in BTF at the end of Friday’s trading day followed the rise in bitcoin spot prices, after BTC increased from $ 60,600 to $ 61,150 per unit.

What do you think of the Valkyrie ETF launch on Friday? Let us know what you think of this topic in the comments section below.

Tags in this story

Bitcoin, spot markets Bitcoin, bito, BTC, Eric Balchunas, ETF, ETF analyst, ETF performance, etfs, exchange traded funds, market updates, Proshares, SEC, Valkyrie, Valkyrie Bitcoin Strategy ETF, vaneck

Image credits: Shutterstock, Pixabay, Wiki Commons, Nasdaq, NYSE,

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