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Investors Can Now Get Bitcoin Exposure with New Valkyrie Bitcoin ETF -Breaking

by Mike Robinson

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Bitcoin Exposure Now Available to Investors with the New Valkyrie Bitcoin Exchange Trade Fund

The crypto story will continue to be significant in 2021 with exchange-traded fund (ETFs). After the launch of the first Bitcoin ETF by Proshares on October 20, the crypto market rallied.

The Valkyrie Bitcoin Strategy ETF was launched three days later. Bitcoin rallied to $68.7k, its highest point ever. Valkyrie’s second Bitcoin ETF launched less than two months after approval for its first ETF.

Valkyrie Balance Sheet Options Bitcoin ETF
Valkyrie has launched a second Bitcoin ETF: the Valkyrie Balance Sheet options ETF (VBB), Wednesday 15 December 2015.

An ETF allows investors to see publicly traded businesses that invest in, deal in or own Bitcoin. These are the top-rated firms within this group: MicroStrategy and Block (formerly Square), Tesla (NASDAQ), Coinbase, PayPal (NASDAQ), and Coinbase.

Valkyrie’s second Bitcoin ETF product will give investors indirect exposure to Bitcoin. As part of the filing, the fund may invest up to 10% of its net assets in Bitcoin mining firms’ securities and up to 5% in pooled investment vehicles in the U.S. that hold BTC.

Steven McClurg is the co-founder of Valkyrie Funds. He explained that it will be less exposed to miners. McClurg said that it will mitigate risk from firms directly dealing with the bitcoin ecosystem.

VBB shares traded at $24.47 as of the writing. This is a drop of more than 1.5% from December 15, when they launched.

To The Flipside

  • There are multiple ETFs available on the marketplace, but regulators reject them. Spot ETF filingsThis will allow investors to have direct access to Bitcoin

Why you should care

ETFs are being considered a positive step by investors. It is hoped that an ETF offering direct Bitcoin exposure will soon be approved.

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