Valkyrie aims to offer 1.25x leveraged Bitcoin Futures ETF

Valkyrie filed paperwork Tuesday to launch the Valkyrie XBTO Levered BTC Futures ETF (BTFX), a 1.25x leveraged Bitcoin-futures fund. The new ETF will seek to achieve daily investment results that correspond to 1.25x the daily performance of the Bitcoin (BTC-USD) reference rate. BTFX will be an actively managed fund that will trade alongside the unleveraged Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF). However, the ETF will not directly invest or hold bitcoin, according to a fund prospectus filed with the U.S. Securities and Exchange Commission. That's because regulators have so far refused to authorize ETFs to directly hold Bitcoin (BTC-USD). The floodgates of Bitcoin-futures funds began to open last week when the ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) launched. One week later, issuers are already looking to offer additional crypto-related ETFs. While a 1.25x leverage might seem small, it’s an additional option for a volatile instrument and comes just under a week after Valkyrie launched BTF. Daily