Valkyrie’s latest ETF offering has exposure to Bitcoin

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Bitcoin ETFs have been drawing a lot of attention in the past few years and recently, VCC launched its own Bitcoin-based ETF. Valkyrie has not taken any steps to make this less risky though since it is still new on the market.

The “valkyrie innovative balance sheet etf” is a new ETF that has exposure to Bitcoin. The fund is designed to track the performance of innovative companies in the cryptocurrency space.



Valkyrie, a crypto asset manager, has developed a Nasdaq Stock Market exchange-traded fund with Bitcoin exposure.

Valkyrie stated in a Wednesday SEC filing that its Balance Sheet Opportunities ETF would not invest directly in Bitcoin (BTC), but will instead invest 80 percent of its net assets in securities of U.S. corporations having BTC on their balance sheets. Custodians, crypto exchanges, and traders are examples of these businesses.

According to the filing, Valkyrie’s ETF may invest up to 10% of its net assets in securities of Bitcoin mining companies, as well as up to 5% in securities of Bitcoin-related pooled investment vehicles in the United States. The fund’s shares, which trade under the symbol VBB, are now selling for $24.48, down more than 1.5 percent since its introduction on Wednesday.

The Valkyrie Balance Sheet Opportunities ETF is a new exchange-traded fund that tracks the performance of balance sheets (Nasdaq: VBB). Today is the first day of trading on @Nasdaq. Disclosures are included in the bio.

December 15, 2021 — Valkyrie (@ValkyrieFunds)

Valkyrie’s newest ETF registration comes after the company launched a Bitcoin Strategy ETF in October, which provided cash-settled futures contracts as an indirect way to invest in bitcoin. The fund’s shares are presently trading on the Nasdaq for $18.70, down nearly 27% from its first public offering on Oct. 22.

The Securities and Exchange Commission (SEC) has approved investment vehicles tied to Bitcoin derivatives, including one from Valkyrie and another from ProShares, but it has yet to accept an application permitting direct crypto investments. Several crypto ETF applications are still pending in the United States, whereas its northern neighbor, Canada, has accepted Fidelity’s BTC ETFs.

WisdomTree’s application for a spot Bitcoin ETF was denied by the SEC.

Bitcoin’s price soared beyond $49,000 today, according to Cointelegraph Markets Pro statistics, but has lost more than 30% since hitting an all-time high of $69,000 on Nov. 9. The BTC price is $47,736 at the time of publishing.

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