Valkyrie Withdrawn Its Leveraged Bitcoin ETF Proposal
US investment manager Valkyrie Investments has withdrawn its proposal to launch a leveraged exchange-traded Bitcoin fund, according to Bloomberg’s ETF expert Eric Balchunas.
After launching its Bitcoin futures ETF last week, Valkyrie filed a request to launch a more exotic version of the product on October 26. It intended to make it possible to trade Bitcoin futures with a 1.25x leverage.
However, it became clear that the proposal was dead when it arrived after the Wall Street Journal reported that the United States Securities and Exchange Commission asked Valkyrie to withdraw the request.
ProShares launched the very first Bitcoin futures ETF on Oct. 19, pushing Bitcoin to the current all-time high of $67,276 the following day.
In the meantime, Direxion recently filed for an ETF that would allow traders and investors to bet against the price of Bitcoin.
