Bitcoin Races Towards New ATHs Following Valkyrie BTC Strategy ETF Approval

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.

BREAKING: It is official, Valkyrie Bitcoin Strategy ETF is approved!! pic.twitter.com/fsIZuUkgFT

— Dr. Julian Hosp (@julianhosp) October 15, 2021

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 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.

If $Btc up + alts down it’s truly a great opportunity historically because you get to ride Btc to new ath’s then compound alts to ath’s

Why better opportunity to achieve your goals than that for those who get it

When you’ve experienced multiple cycles you know. Take what we get

— Pentoshi Won’t Dm You. hates Dm’s. DM’s are scams (@Pentosh1) October 11, 2021

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