Valkyrie Investments Registered A New Bitcoin Mining Focused ETF With the SEC

Cryptocurrency asset manager Valkyrie Investments has registered with the SEC to list a Bitcoin mining-focused exchange-traded fund (ETF) on Nasdaq. The Fund will invest at least 80% of its assets in companies that derive at least 50% of their revenue from Bitcoin mining.

Valkyrie Registers Bitcoin Mining Focused ETF

According to a filing Wednesday with the SEC, Valkyrie’s proposed ETF will invest at least 80% of its net worth in stocks of companies that derive most of their revenue from mining-related activities. Bitcoin mining, including the production of specialized mining chips, hardware and software.

Considering the SEC’s refusal to approve physical or spot Bitcoin ETF applications, asset managers and investment firms have turned to products that provide indirect exposure to the cryptocurrency market. cryptocurrency, including Bitcoin futures ETFs, crypto company shares, or ETFs that invest in them.

The Valkyrie Bitcoin Miners ETF will invest neither directly nor indirectly in Bitcoin, related derivatives, investment funds or asset-holding trusts. Instead, if approved by the SEC, the fund will be an actively managed exchange-traded vehicle that focuses on buying shares of Bitcoin miners or cryptocurrency mining equipment manufacturers. death. The ETF will charge a management fee of .75 percent annually.

Valkyrie’s new ETF will provide investors with diversified, direct exposure to the Bitcoin mining industry if the SEC approves the fund. Valkyrie will also consider environmental, social and governance (ESG) criteria in selecting securities for the fund’s portfolio. Specifically, the company plans to allocate at least 80% of the fund’s net assets to companies that use at least 50% renewable or clean energy for their mining operations.

This is not Valkyrie’s first crypto-related ETF. Last October, the crypto asset manager became the third company to launch a Bitcoin futures ETF, after ProShares and VanEck. A month later, Valkyrie also launched a $100 million DeFi hedge fund, giving investors access to more than 24 cryptocurrencies on more than 13 blockchains.

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