Valkyrie, a company specializing in alternative asset management, has just filed an exchange-traded fund (ETF) that will invest most of its net assets in companies focused on crypto mining.
According to the post-effective amendment filed by the company for the Valkyrie Bitcoin Miners ETF, the fund would invest 80% of its assets in shares of companies that derive at least 50% of their revenues from BTC mining-related activities.
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Although the fund will not own any Bitcoin, either directly or indirectly, it may invest up to 20% of its net assets in companies that hold Bitcoin on their balance sheets. As a result, the fund could be affected by movements in the price of the crypto.
The company has previously launched other funds focused on the Bitcoin ecosystem. Although it has yet to get its spot Bitcoin ETF approved by the SEC, the company successfully launched a Bitcoin futures ETF to the market in October last year, while in December it launched the Valkyrie Balance Sheet Opportunities ETF, which invests in publicly traded companies with Bitcoin on their balance sheets.