The Valkyrie Bitcoin ETF (BRRR) posted an impressive jump of over 12% in today's pre-market session. This comes after four consecutive days of decline since its inception, indicating a significant recovery. Meanwhile, other Spot Bitcoin ETFs extended the decline.
Based on the data, BRRR Valkyrie jumped 12.64% to $13.84 (up 1.55 points) in the pre-market session on Wednesday, January 17. This increase may be due to the massive accumulation of Bitcoins by the Valkyrie Bitcoin Fund.
It is reported that the Valkyrie Bitcoin Fund added 355 BTC worth more than $15 million, following the recent Bitcoin price trend. Previously, BRRR declined by 12.86% and closed at $12.29 on Tuesday. Additionally, this ETF has experienced a decline in value since its launch.
Valkyrie's Bitcoin ETF, BRRR, opened at $14.10 on Thursday, January 11, which was its first day of trading. After that, the price dropped 5.74% and closed at $13.29. Further, on Friday, BRRR declined by 6.17% and finished the trading session at $12.47. However, a recent pre-market push has pushed the Valkyrie Bitcoin ETF price closer to its opening price, indicating a remarkable recovery.
Meanwhile, Valkyrie's main rivals, such as Grayscale's GBTC and BlackRock's IBIT, declined in the pre-market session. GBTC fell 0.57% to $38.10 while IBIT declined by 1.25% to $24.72. This comes after GBTC and IBIT lost 0.67% and 1% respectively on Tuesday.
Further, other Bitcoin Spot ETF competitors also registered significant declines in the pre-market session. ARKB of the Ark 21 Shares Bitcoin ETF fell 1.73% to $42.73 after closing 0.80% lower on Tuesday. Also, Fidelity Wise's FBTC fell 0.84% to $37.78 after closing at $38.10 (down 0.65%) in the last day.
Meanwhile, Invesco Galaxy's BTCO fell 0.83% to $43.06. Also, BITB from Bitwise lost 1.56% and recorded the price at $23.35. WisdomTree Bitcoin Trust (WBTC) fell 1.38% to $45.41. Previously, WBTC closed at $46.04 on Tuesday, showing a decrease of 1.21%.
Vaneck Bitcoin Trust (HODL) fell by $0.91% to $48.75, while ProShares Bitcoin Strategy ETF (BITO) recorded a price level of $20.60, down by 1.48%. On the other hand, Franklin Templeton's EZBC declined 1.71% to 24.75.
