The Valkyrie Bitcoin ETF (BRRR) has recorded an impressive surge of over 12% in the pre-market trading session today. This comes after four consecutive days of declines since inception, indicating a significant rebound. Whilst, the other Spot Bitcoin ETFs extended declines.

Valkyrie Bitcoin ETF Gains After Major BTC Acquisition

According to data from Yahoo Finance, Valkyrie’s BRRR soared 12.64% to $13.84 (up by 1.55 points) at press time in the pre-market session on Wednesday, January 17. The upswing could be attributed to the massive Bitcoin acquisition by the Valkyrie Bitcoin Fund.

The Valkyrie Bitcoin Fund reportedly added 355 BTC worth over $15 million, considering the recent Bitcoin price trends. Earlier, BRRR plunged by 12.86% and closed at $12.29 on Tuesday.

Meanwhile, Valkyrie‘s major competitors, such as Grayscale’s GBTC and BlackRock’s IBIT tumbled in the pre-market session. GBTC dropped 0.57% to $38.10 while IBIT slumped by 1.25% to $24.72. Moreover, other rivals also registered declines.

Also Read: Spot Bitcoin ETFs See $10 Billion Trading Volumes In Just 3 Days, What’s Ahead?

The post Just-In: Valkyrie Bitcoin ETF (BRRR) Soars 12% Pre-market As Rivals Extend Declines appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am