Following the debut of ProShares' Bitcoin Strategy ETF later today, analysts anticipate that Valkyrie will introduce futures-based Bitcoin ETF trading this week.
<h2>This Week, Valkyrie Might Launch A Bitcoin Futures ETF</h2>
After being authorized for listing on the <a href="https://www.cryptoknowmics.com/news/us-securities-and-exchange-commission-sec-approves-the-proshares-bitcoin-strategy-etf/">Nasdaq market</a> last week, Valkyrie's Bitcoin (BTC) futures-based ETF is "expected" to launch in the next days, according to Bloomberg analyst Eric Balchunas on Oct. 19.

If confirmed, Valkyrie's fund would be just the second Bitcoin ETF to start in the United States, following ProShares' futures-based ETF, which is set to begin trading on the New York Stock Exchange under the symbol $BITO on Oct. 19.

According to fellow Bloomberg <a href="https://twitter.com/JSeyff/status/1450188871782871047" target="_blank" rel="nofollow noopener">analyst James Seyffart</a>, Valkyrie's Bitcoin Strategy ETF ($BTF) will launch on the same day as ProShares' offering. 

Balchunas, on the other hand, tweeted earlier today that Varlkyrie's fund will "likely" open on Oct. 20 or Oct. 21 and that ProShares will have the "market to itself" for the time being.

[embed]https://twitter.com/EricBalchunas/status/1450187923454894081[/embed]

Balchunas also <a href="https://twitter.com/EricBalchunas/status/1450214934403497989" target="_blank" rel="nofollow noopener">mentioned </a>that Valkyrie has changed its ticker symbol in its application from BTFD to BTF.
<h2>Invesco Withdraws From The Contest To Develop A Bitcoin ETF Based On Futures Contracts</h2>
Despite the optimistic atmosphere surrounding the Securities and Exchange Commission's (SEC) approval of the United States' first Bitcoin ETF, Invesco <a href="https://www.barrons.com/articles/invesco-suddenly-pulls-its-bitcoin-etf-application-51634595480" target="_blank" rel="nofollow noopener">stated </a>on Oct. 18 that it has withdrawn its application for a futures-based ETF.

While observers expected that Invesco's futures ETF would be approved by the SEC this week, the business said on Oct. 18 that it has withdrawn its application, adding that it intends to work on creating a spot Bitcoin ETF in conjunction with crypto broker-dealer Galaxy Digital. According to Invesco,
“We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors a full shelf of products with exposure to this transformative asset class, including pursuing a physically-backed, digital asset ETF.”
However, on Anthony Pompliano's "Best Business Show" on October 19, Seyffart and Balchunas <a href="https://www.youtube.com/watch?v=2Y8zf1B02EQ" target="_blank" rel="nofollow noopener">claimed </a>that the approval of a spot BTC-backed ETF is unlikely to happen anytime soon.

SEC chairman <a href="https://www.cryptoknowmics.com/news/ceo-of-vault-equity-says-sec-chair-gary-gensler-is-actually-pro-bitcoin/">Gary Gensler</a>, according to Balchunas, is much more "comfortable" with Bitcoin futures-based ETFs since they provide better consumer safeguards than spot-backed funds.

Analysts Believe that Valkyrie Will Introduce a Bitcoin Futures ETF this Week

Valkyrie is "expected" to launch Bitcoin (BTC) futures-based ETF in the next few days, according to Bloomberg analyst Eric Balchunas on Oct. 19.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Analysts Believe that Valkyrie Will Introduce a Bitcoin Futures ETF this Week

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