Valkyrie's bitcoin futures ETF posts trade volume worth nearly $80 million on opening day

Valkyrie's bitcoin futures ETF posts trade volume worth nearly $80 million on opening day

Valkyrie's bitcoin futures exchange-traded fund (ETF) listed on NASDAQ Friday, scoring an $80 million debut by the end of the day's session.

Valkyrie's Bitcoin Strategy ETF ($BTF) opened at $25 and closed the day at $24.16, according to data from Bloomberg. In sum, the day's volume came in at about $78 million after roughly 3.1 million shares traded hands.

Bloomberg ETF analyst Anthony Rayar tweeted that volume and value traded for $BTF and $BITO show "strong and consistent demand."

Bloomberg Senior ETF analyst Eric Balchunas tweeted the $BTF listing remained a significant debut of this year despite being significantly overshadowed by ProShares' $BITO.

By comparison, ProShares listed the first bitcoin-futures ETF earlier this week on the New York Stock Exchange, and the product surpassed already-high expectations with an inaugural day volume nearing $1 billion.

ProShares won the race to list the U.S.'s first crypto ETF after SEC Commissioner Gary Gensler expressed an interest in reviewing crypto proposals for products tied to CME bitcoin futures. Valkyrie was second across the line, but other proposals are waiting in the wings, including VanEck, which is expected to list some time next week.

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