Valkyrie'southward Bitcoin (BTC) futures-based exchange-traded fund (ETF) is poised to follow the launch of ProShares' Bitcoin Strategy ETF on Friday.

Valkyrie Bitcoin Strategy ETF is finally effective and is ready to start trading on Nasdaq nether the ticker BTF on Friday, Valkyrie confirmed to Cointelegraph on Th.

The launch comes after the United States Securities and Commutation Commission granted a observe of effectiveness to Valkyrie Bitcoin Strategy ETF on Thursday.

According to Leah Wald, CEO of Valkyrie Funds, the upcoming launch of Valkyrie's Bitcoin futures ETF marks an of import milestone in the human relationship between the cryptocurrency industry and U.S. regulators.

"This launch is important because it's further affidavit that U.S. regulators want to collaborate with the industry to regulate crypto avails rather than ban them," she said.

"The more products that come up to market, the more than awareness they bring and, hopefully, more adoption. There are of course other filings for similar products, and it would brand sense for them to come to market," Wald added.

Related: JPMorgan says inflation concerns, not ETFs, driving Bitcoin toll jump

As previously reported, ProShares' Bitcoin Strategy ETF became the outset Bitcoin futures-based ETF to launch in the United States, starting trading on the New York Stock Exchange on Tuesday. Before in October, the SEC also approved a Bitcoin-linked ETF product by Volt Equity that provides investors with an instrument investing in companies with significant exposure to Bitcoin.