The 2d Bitcoin (BTC) futures-linked substitution-traded fund in the United States began trading on the Nasdaq, opening at a price of $25.52 per share.

Co-ordinate to Nasdaq, digital asset managing director Valkyrie'southward Bitcoin Strategy ETF, the 2d exchange-traded fund allowing U.S. investors direct exposure to cryptocurrency futures, opened at a price of $25.52 per share of BTF before dropping 3.3% to reach $24.66 at the time of publication. The exchange-traded fund is aimed at tracking the value of BTC futures listed on the Chicago Mercantile Commutation, or CME.

"This Bitcoin Strategy ETF is a major leap forward for this asset class," said Valkyrie CEO Leah Wald. "It enables investors to participate in the digital asset markets through a regulated, transparent production that trades on a trusted, reliable exchange and can be bought and sold as easily as whatever other investment currently available."

The crypto fund on a major stock substitution is the second to launch this calendar week following ProShares' Bitcoin Strategy ETF opening for trading on the New York Stock Commutation on Oct. xix. In less than a week, the fund has reached more than $1 billion in assets nether management in addition to approaching the limit on the number of futures contracts immune under the CME.

The Securities and Exchange Commission get-go accepted the registration asking for Valkyrie's ETF on Oct. 15, presently afterwards doing the same for shares of ProShares. The regulatory body nevertheless has several crypto ETF applications nether consideration and has simply approved those with exposure linked to BTC futures.

Related: Cointelegraph Consulting: ETFs listed — What's side by side for Bitcoin?

According to data from Cointelegraph Markets Pro, the price of Bitcoin rose above $63,000 for the start time in months afterwards shares of ProShares' ETF opened for trading on Oct. xix and afterward reached an all-fourth dimension high price budgeted $67,000. On Friday, the price dipped more than than iii%, following the market's opening, dropping from $63,449 to equally low as $61,437.