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Bitcoin (BTC)
$63,576.00 -1.52227
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Ethereum
Ethereum (ETH)
$3,402.05 -0.55403
Ethereum price
BNB
BNB (BNB)
$567.90 -0.7438
BNB price
Solana
Solana (SOL)
$157.12 -0.03764
Solana price
XRP
XRP (XRP)
$0.5688110 -7.78125
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 -8.69479
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 -3.84368
Pepe price
Bonk
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$0.0000262 -3.49317
Bonk price
Bitcoin
Bitcoin (BTC)
$63,576.00 -1.52227
Bitcoin price
Ethereum
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$3,402.05 -0.55403
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BNB
BNB (BNB)
$567.90 -0.7438
BNB price
Solana
Solana (SOL)
$157.12 -0.03764
Solana price
XRP
XRP (XRP)
$0.5688110 -7.78125
XRP price
Shiba Inu
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$0.0000172 -8.69479
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 -3.84368
Pepe price
Bonk
Bonk (BONK)
$0.0000262 -3.49317
Bonk price
Bitcoin
Bitcoin (BTC)
$63,576.00 -1.52227
Bitcoin price
Ethereum
Ethereum (ETH)
$3,402.05 -0.55403
Ethereum price
BNB
BNB (BNB)
$567.90 -0.7438
BNB price
Solana
Solana (SOL)
$157.12 -0.03764
Solana price
XRP
XRP (XRP)
$0.5688110 -7.78125
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 -8.69479
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 -3.84368
Pepe price
Bonk
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$0.0000262 -3.49317
Bonk price

Valkyrie moves to convert BTF into dual Bitcoin, Ethereum ETF

valkyrie-moves-to-convert-btf-into-dual-bitcoin-ethereum-etf
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Valkyrie moves to convert BTF into dual Bitcoin, Ethereum ETF

Valkyrie recently filed a Form 497 detailing its plan to transform its existing Bitcoin Technique exchange-traded fund (BTF) into a dual Bitcoin and Ether exchange-traded fund (ETF) on Oct. 3. 

Finance experts are questioning the decision to convert the current futures fund rather than forming a whole new business. Observers speculate that regulatory procedures under the U.S. Securities and Exchange Commission (SEC) make it impossible to deviate from the set deadline.

Bloomberg ETF analyst Eric Balchunas compares Valkyrie’s move to that of the first marijuana ETF, MJ, which also aimed to gain market share.

Valkyrie vs Blackrock

The decision follows BlackRock’s Bitcoin ETF proposal to the SEC’s approval on July 13. The heightened focus on ETF proposals from the regulatory body is a good indication, especially in the Bitcoin sector.

Valkyrie’s Bitcoin (BTC) Miners ETF is a leader among cryptocurrency exchange-traded funds (ETFs) for 2023. As of July 27, the fund had $24 million in assets under management and returned an astounding 261% year-to-date.

Valkyrie, under the helm of CEO Leah Wald, would be the first fund to succeed if given the go-light by the SEC. Other applicants include ProShares, VanEck, Grayscale, and Bitwise.

The introduction of the Bitcoin and Ether ETF ahead of schedule is an exciting development for the market as the cryptocurrency sector develops.

The year’s ETF trend reflects the rising popularity of cryptocurrency and other digital assets. The growth seen by cryptocurrencies in 2023 is reflected in the fact that all the top 10 ETFs for the year are focused on them. This congruence further demonstrates the promise of ETFs in the cryptocurrency market.

BlackRock, ARK Invest, Fidelity Investments, WisdomTree, VanEck and Invesco are currently applying for a spot bitcoin ETF.