Valkyrie Updated Bitcoin Futures ETF Filing Effective Date To October 20

Key Points:

• Valkyrie shifts leveraged the Bitcoin ETF launch to October 20, with active BTC exposure management.
• A Bitcoin spot ETF application with real-time market reflection awaits SEC approval.
• SEC’s approaching deadlines for Bitcoin ETF decisions raise market uncertainty.

Valkyrie Investments, a prominent cryptocurrency-focused asset management firm, has altered the launch date for its highly anticipated leveraged Bitcoin futures ETF.

Valkyrie Updated Bitcoin Futures ETF Filing to October 20

Originally submitted for approval on May 15, 2023, this innovative ETF, trading under the ticker symbol BTFD, will actively manage exposure levels ranging from 100% to 200% long BTC. The new effective date for its release is October 20th, as confirmed by Bloomberg analyst James Seyffart.

In a separate move, Valkyrie Investments submitted an application to the US Securities and Exchange Commission (SEC) in June, seeking permission to launch a Bitcoin spot ETF. If approved, this ETF will be based on the current Bitcoin price, providing a real-time reflection of BTC’s market capitalization, distinct from futures-based ETFs.

Crypto Market Watches Closely as SEC Deliberates on Bitcoin ETF Deadlines

The Valkyrie Bitcoin Strategy and Ether Strategy ETFs are currently awaiting approval from the SEC, with a crucial deadline set for October 3, 2023. Notably, there is growing optimism that the Ethereum Futures ETF might become the first of its kind to secure SEC approval, according to industry experts.

The SEC faces a series of forthcoming deadlines for its decision on various spot Bitcoin ETFs, including Bitwise, BlackRock, VanEck, WisdomTree, Invesco & Galaxy, and Fidelity. Valkyrie’s deadline is set for October 19. However, there is a possibility of extensions, as the SEC previously delayed its decision during the initial deadline.

Furthermore, the SEC’s postponement of its verdict on 21Shares and ARK’s spot Bitcoin ETF application, which missed the second deadline in August, raises speculation that other applications may experience similar delays. The financial industry will closely watch the SEC’s actions, which could potentially extend until mid-March 2024, introducing a new level of uncertainty to the cryptocurrency market.

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