Valkyrie Bitcoin futures-linked ETF launches on Nasdaq, with share prices dropping 3% in first hour

The Nasdaq opened trading for the second Bitcoin (BTC), futures-linked exchange traded fund in the United States at $25.52 per share.

The Nasdaq reports that Valkyrie, digital asset manager, opened Valkyries Bitcoin Strategy ETF at $25.52 per share. However, it dropped 3.3% to $24.66 at publication. This exchange-traded fund tracks the value of BTC futures that are listed on the Chicago Mercantile Exchange (CME).

Leah Wald, CEO of Valkyrie, stated that the Bitcoin Strategy ETF was a significant step forward in this asset class. It allows investors to take part in digital asset markets via a regulated, transparent product. The product trades on a reliable, trusted exchange, and can be purchased and sold as easily or any other investment.

After ProShares Bitcoin Strategy ETF opened for trading on October 19, the crypto fund will be the second to go live on a major stock exchange. The fund has more than $1B in assets under management and is close to the CMEs limit for futures contracts.

On Oct. 15, the Securities and Exchange Commission accepted Valkyries registration request for an ETF. This was just a few days after it did the same for ProShares shares. The regulator is still considering several applications for crypto ETFs, but has approved only those that are exposed to BTC futures.

Related: Cointelegraph Consulting – ETFs listed — What next for Bitcoin?

Data from Cointelegraph Markets Pro shows that Bitcoins price rose to $63,000 after shares of ProShares ETF opened for trading on October 19. It then reached an all-time high of $67,000. Todays price dropped more than 3% after markets opened, falling from $63,449 down to $61,437.