Valkyrie Investments’ bitcoin ETF began trading early Friday, under the ticker BTF, but it soon fell by 4% from the initial price just as Bitcoin dipped as well.
Bitcoin fell that day again to just $60,095 after it reached a new ATH of almost $67,000 earlier the same week. Valkyrie eventually recovered and managed to trade at $25 per share. On Friday, the ProShares ETF, BITO, also fell by 4% to $39.04.
Still, the US is finally enjoying ETFs, after a pretty long wait. Yes, it would have been better if they were ETFs backed by bitcoin directly, and not focusing on bitcoin futures contracts, but it is a step in the right direction.
The first US bitcoin futures that went live, BITO, recorded over $1 billion in assets in only two days.