Bitcoin Races Towards New ATHs Following Valkyrie BTC Strategy ETF Approval

Source: Pixabay

The whole crypto market is cheering following Valkyrie Bitcoin Strategy ETF approval. This is an enormous step for the whole crypto space, and Twitter is celebrating.

A few hours ago, it’s been revealed that the BTC futures ETF from ProShares will begin trading next week, an amended filing from the company reveals. This is definitely marking a milestone moment in the development of the crypto industry in the United States.

“The SEC had not formally approved the creation of BTC futures ETF as of Friday afternoon and the agency may never make a formal declaration of approval for it,” CNBC online publication notes.

The continue and reveal that ProShares’ announcement indicates that the agency is unlikely to block the listing at this point.

Someone on Twitter noted that “Someone noted that “Issuing the BTC futures ETF is a good step but it’s basically handing hedge funds a massive arbitrage opportunity as the futures will trade at a large premium in bull phases and they get to capture those returns.”

The price of Bitcoin started racing following the announcement.

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $61,150.

The crypto market is on the verge of a massive boom

The other day, we were revealing that crypto analysts are seeing a bright future for digital assets’ prices. The online publication the Daily Hodl notes that crypto market analyst Pentoshi thinks that Bitcoin’s run-up is giving traders a prime opportunity.

Be believes that Bitcoin moving higher before dragging the crypto market up creates an opportunity to compound BTC profits with altcoins.

Stay tuned for more news and keep your eyes on the market – new ATH expected for Bitcoin soon.

Previous ArticleNext Article
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.