The filing specifies that Valkyrie’s ETF could invest up to 10% of its internet assets in securities of Bitcoin mining corporations, furthermore as up 5% within the securities of pooled investment vehicles within the U.S. that hold BTC.
Crypto quality manager Valkyrie has launched an exchange-traded fund with exposure to Bitcoin on the NASDAQ stock exchange.
In a weekday SEC filing, Valkyrie same its record Opportunities ETF won't invest directly in Bitcoin (BTC) however 80% of its internet qualitys would supply exposure to the crypto asset through securities of U.S. firms with BTC on their balance sheets. These firms might embody custodians, crypto exchanges, and traders.
The filing specifies that Valkyrie’s ETF might invest up to 10% of its internet assets in securities of Bitcoin mining companies, in addition as up 5% within the securities of pooled investment vehicles within the U.S. that hold BTC. At the time of publication, shares of the fund below the ticker VBB area unit commerce for $24.48, having fallen more than 1.5% since launching on weekday.
Valkyrie’s latest ETF filing follows the firm launching a Bitcoin Strategy ETF in October that offered indirect exposure to BTC with cash-settled futures contracts. Shares of the fund are presently commerce on the NASDAQ for $18.70, having fallen roughly 27% since gap on Oct. 22.
Though the SEC has given the greenlight to investment vehicles coupled to Bitcoin derivatives, together with one from valkyrie and another from ProShares, the regulative body has nonetheless to approve an application permitting direct investments in crypto. many crypto ETF applications are still into account within the united states, whereas its neighbor to the north — Canada — has approved BTC ETFs from Fidelity.
( Turner Wright, Cointelegraph, 2021 )