Top crypto analysts are predicting that we will see a second futures-based Bitcoin exchange-traded fund (ETF) go live before the week runs out, even as the ProShares’ Bitcoin Strategy ETF will be launching later today.
In the early hours of Tuesday October 19, renowned Bloomberg’s analyst Eric Balchunas predicted that Valkyrie’s own Bitcoin (BTC) futures-based ETF is likely to launch in the next few days following the ETF being successfully certified for listing on the Nasdaq exchange last week.
Well, if this turns out to be true, then the achievement would ensure that Valkyrie’s fund is only the second Bitcoin ETF to launch in the U.S. And it comes right after ProShares’ futures-based ETF who we already reported at TheCoinrise, is scheduled to begin trading on the New York Stock Exchange today, under the ticker $BITO.
Recall that Bloomberg analyst James Seyffart had also previously predicted that Valkyrie’s Bitcoin Strategy ETF ($BTF) would go live on the same day ProShares’ product does. However, Balchunas tweet earlier today says that ProShares will be having the market to itself for the time being as Valkyrie’s fund will ‘likely’ launch on Wednesday or Thursday.
Balchunas also added that Valkyrie had updated its ticker from BTFD to BTF in its application.
In both predictions of the crypto analysts however, one thing remains common. And that is the fact that Valkyrie will most likely be launching its Bitcoin Futures ETF sometime this week.
Crypto analysts didn’t see Invesco bowing out of race to launch futures-based Bitcoin ETF
Meanwhile, Invesco had on Monday withdrawn its application for a futures-based ETF. This is despite most people predicting that Invesco’s futures ETF would also get the nod from the SEC this week, following SEC’s first ETF approval. The firm however revealed on Oct. 18 that it had withdrawn its application, stating its intentions to work toward launching a spot Bitcoin ETF together with crypto broker-dealer Galaxy Digital.