Valkyrie aims for ETF linked to Bitcoin mining firms on Nasdaq

1/27/2022 1:37:00 AM

Will the SEC say no? Valkyrie applied to trade an ETF with exposure to Bitcoin mining firms on the Nasdaq Stock Market.

Will the SEC say no? Valkyrie applied to trade an ETF with exposure to Bitcoin mining firms on the Nasdaq Stock Market.

The Bitcoin Miners ETF from asset manager Valkyrie would invest up to 20% of its net assets in companies holding 'a significant portion of their net assets' in Bitcoin.

In 2021, the SEC approved investment vehicles linked to BTC derivatives for the first time, buthasn’t given the green lightto any Bitcoin spot exchange-traded fund in the United States. The Valkyrie Bitcoin Miners ETF resembles the Digital Asset Mining ETF proposed by asset manager VanEck in December 2021, which plans to invest 80% of its total assets in securities from crypto mining firms — the regulatory body has until Feb. 14 to reach a decision on the fund or extend the deadline.

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from ProShares.by January 26, 2022, 5:08PM EST · 1 min read advertisement Valkyrie has filed for an exchange-traded fund (ETF) that will invest the majority of its net assets in companies focused on bitcoin mining.$14 per day with $0.Months after having its Bitcoin futures-backed ETF launched on the US stock market, the crypto asset manager has sought approval for another exchange-traded fund.

At the time of publication, shares of the fund traded on the Nasdaq for $14.93, having fallen more than 40% since opening on Oct. The fund plans to invest 80% of its assets in securities related to companies that derive at least 50% of their revenue from activities related to bitcoin mining, like providing specialized chips, hardware or software. 22. The application notes that the fund will be “indirectly exposed to the risks of investing in bitcoin” and that bitcoin is a “new and highly speculative investment. In 2021, the SEC approved investment vehicles linked to BTC derivatives for the first time, but hasn’t given the green light to any Bitcoin spot exchange-traded fund in the United States. The risk disclosures point out that the fund could be impacted by the price movements of the cryptocurrency. The Valkyrie Bitcoin Miners ETF resembles the Digital Asset Mining ETF proposed by asset manager VanEck in December 2021, which plans to invest 80% of its total assets in securities from crypto mining firms — the regulatory body has until Feb. If approved, Valkyrie Funds LLC will serve as the ETF’s investment adviser, while Vident Investment Advisory will be the sub-adviser.

14 to reach a decision on the fund or extend the deadline. Though it has not yet managed to get its spot bitcoin ETF through the Securities and Exchange Commission (SEC), it successfully brought a.87 per share at the time of writing. Related: .