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. INTERESTING: Valkyrie just filed a 497 that they plan to convert $BTF into a Bitcoin + Ether ETF on Oct 3rd, which would would be two wks ahead of the other 13 filers scheduled launch. We'll see if this flies. Something similar happened back in day with $MJ, the first pot ETF https://t.co/Ypnien30ED pic.twitter.com/W9WiU2xc0W — Eric Balchunas (@EricBalchunas) Au...