Valkyrie’s BRRR Rises 12% Pre-Market as Rivals Extend Their Drops
Valkyrie Bitcoin ETF (BRRR) gained an impressive over 12% in today’s pre-market trading session. This follows four consecutive days of declines since inception, indicating a significant recovery. While other Spot Bitcoin ETFs extended declines.
Valkyrie Bitcoin ETF Gains After Massive BTC Buy
According to data from Yahoo Finance, Valkyrie’s BRRR rose 12.64% to $13.84 (up 1.55 points) during the pre-market session on Wednesday, January 17, at press time. This rise can be attributed to the Valkyrie Bitcoin Fund’s massive Bitcoin purchase. .
Valkyrie Bitcoin Fund reportedly added 355 BTC, worth over $15 million, considering recent Bitcoin price trends. Previously, BRRR was down 12.86% and closed at $12.29 on Tuesday. In addition to this, the ETF was witnessing a decline in its value since its launch.
Valkyrie Bitcoin ETF (BRRR) opened at $14.10 on Thursday, January 11, its first trading day. It then dropped by 5.74% and closed at $13.29. Also on Friday, BRRR fell 6.17% and finished the trading session at $12.47. However, recent pre-market pressure brought the Valkyrie Bitcoin ETF price closer to its opening price, indicating a remarkable recovery.
Also Read: Cathie Wood’s Ark Invest Sells ProShares Strategy ETF (BITO) to Buy ARKB Spot Bitcoin ETF
Valkyrie’s Rivals Failed to Make a Comeback
Meanwhile, Valkyrie’s major rivals such as Grayscale’s GBTC and BlackRock’s IBIT fell in the pre-market session. GBTC fell 0.57% to $38.10, while IBIT fell 1.25% to $24.72. This comes after GBTC and IBIT lost 0.67% and 1% respectively on Tuesday.
Additionally, other Spot Bitcoin ETF competitors also recorded significant pre-market declines. Ark 21 Shares Bitcoin ETF (ARKB) fell 1.73% to $42.73 after closing 0.80% lower on Tuesday. Additionally, Fidelity Wise’s FBTC fell 0.84% to $37.78 after closing last day at $38.10 (down 0.65%).
Meanwhile, Invesco Galaxy’s BTCO fell 0.83% to $43.06. Additionally, Bitwise’s BITB lost 1.56% and was priced at $23.35. Meanwhile, WisdomTree Bitcoin Trust (WBTC) fell 1.38% to $45.41. Earlier, WBTC closed Tuesday at $46.04, down 1.21%.
Vaneck Bitcoin Trust (HODL) fell 0.91% to $48.75, while ProShares Bitcoin Strategy ETF (BITO) fell 1.48% to $20.60. Meanwhile, Franklin Templeton’s EZBC index fell 1.71% to 24.75. On the other hand, Hashdex’s DEFI remained stable at $51.50 at Tuesday’s close.
Also Read: Spot Bitcoin ETFs See $10 Billion Trading Volume in just 3 Days, What’s Ahead?
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