Second U.S. Bitcoin Futures ETF Makes Lower-Profile Debut (2)

The second futures-backed U.S. Bitcoin exchange-traded fund made a slightly less conspicuous debut than the launchof the first such investment product three days ago.

The Valkyrie Bitcoin Strategy ETF -- trading under the ticker BTF -- fell 2.8% from its inception price of $25 Friday. More than 3.1 million shares worth about $78 million changed hands during the session. Bitcoin, meanwhile, pared an earlier advance to fall as much as 4.3% to $60,011. The largest digital currency reached an all-time high of just under $67,000 on Wednesday.

“There does seem to be a first mover advantage that plays out,” ...