Another Bitcoin futures ETF approved
With Valkyrie‘s futures exchange-traded fund (ETF) application approved by the Securities and Exchange Commission (SEC), the company can now go forward with its plans.
Following the publication of the SEC document on Thursday, the application was submitted under the Securities Exchange Act of 1934 using a 19b-4 form, the same statute on which the prospects for a Bitcoin (BTC) ETF have relied in the past although with little success to far.
Teucrium’s Futures Exchange-Traded Fund
Earlier this month, the SEC authorized Teucrium’s Bitcoin futures exchange-traded fund (ETF), making it the first such vehicle to be licensed under the ’33 Act since its inception.
The Valkyrie XBTO Bitcoin Futures Fund, which was established in August 2021, monitors the performance of bitcoin futures contracts.
For its part, the SEC has approved Bitcoin futures exchange traded funds from ProShares and VanEck, but it has so far rejected all applications to form a spot Bitcoin exchange traded fund (ETF).
The funds have done well so far, but many people are looking for even better results in the future, especially with the launch of a spot ETF in the near future.
According to a recent Nasdaq survey, the introduction of a spot Bitcoin exchange-traded fund may lead to an increase in the number of financial advisors who use cryptocurrencies.
