Valkyrie eyes October launch for Bitcoin Futures ETF


Asset manager Valkyrie Funds is gearing up to launch its Bitcoin ETF. 


In a recent tweet from James Seyffart, a research analyst with Bloomberg Intelligence, Valkyrie Funds updated its post-effective date for a leveraged Bitcoin Futures ETF.


This product’s initial filing was made on May 15, Seyffart noted. However, the asset management firm has set its sights on a revised Oct. 20 launch date.


Valkyrie jockeys for position


Valkyrie has thrown its hat into the ring alongside prominent asset management firms like BlackRock and Fidelity, all vying for approval to introduce a spot Bitcoin ETF.


This move signals a growing trend in the traditional financial sector, where established players are now eager to explore the potential of Bitcoin and other crypto assets


In June 2023, a Valkyrie subsidiary filed an updated spot ETF proposal. This revised proposal shifted the intended exchange to Nasdaq and updated the ticker to $BRRR. Valkyrie Investments already boasts a Bitcoin futures ETF product listed on Nasdaq.

In October 2021, Valkyrie made waves by launching a Bitcoin futures ETF on the Nasdaq exchange, making it the second entity in the United States to introduce a Bitcoin futures ETF. 


Institutional interest in ETFs growing


Valkyrie is not alone in pursuing a crypto ETF approval in the U.S., as other established players, including Invesco, WisdomTree, and Direxion, are also in the race.


BlackRock, the world’s largest asset manager, has also entered the spot in the Bitcoin ETF race, underscoring BTC’s rising acceptance and institutional interest. 



However, Bitwise, a crypto index fund manager, recently backtracked compared to Valkyrie. Bloomberg reported on Sept. 22 that the firm has withdrawn its application to convert its Bitcoin futures fund to a Bitcoin and Ethereum futures fund. This move implies that Bitwise’s fund will continue to focus solely on Bitcoin exposure.


Gensler still not supporting crypto ETFs


U.S. Securities and Exchange Commission (SEC) chair Gary Gensler was recently questioned about approving cryptocurrency spot ETFs during a Senate Banking Committee hearing on Sept. 12. However, Gensler emphasized the need for vigilant oversight of the crypto space while failing to answer clearly on crypto spot ETF approvals.


Source : by Ogwu Osaemezu Emmanuel / September 24, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.