HomeNewsValkyrie files for ETF tracking Bitcoin mining firms

Valkyrie files for ETF tracking Bitcoin mining firms

- Advertisement -


Asset management firm Valkyrie has filed an application with the US Securities and Exchange Commission to list an ETF that tracks the performance of Bitcoin mining firms listed on Nasdaq.

According to the documents submitted Wednesday, the Valkyrie Bitcoin Miners ETF will invest at least 80% of the fund’s portfolio into firms that generate more than 50% of their revenue from Bitcoin mining.

In addition, up to 20% of the assets will likely be invested in firms that “hold a significant portion of their net assets in bitcoin on their balance sheet.” The ETF will not invest in Bitcoin directly or through indirect investments such as derivatives, investment funds, or trusts.

Several companies have launched or are in the process of launching Bitcoin mining-related ETFs. The Invesco Alerian Galaxy Crypto Economy ETF, approved last October, invests in stocks of companies engaged in cryptocurrency, cryptocurrency mining, cryptocurrency buying, or enabling technologies.

Asset management firm VanEck also applied for a mining-related ETF in December last year. Valkyrie currently offers Bitcoin futures ETFs and the Valkyrie US Innovative Balance Sheet ETF, which tracks the performance of companies that own Bitcoin as a company’s assets, such as MicroStrategy and Tesla.

As SEC continues to reject spot Bitcoin ETF applications, several companies are listing ETFs that offer indirect exposure to Bitcoin and other crypto-assets.



Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 44,339.00
ethereum
Ethereum (ETH) $ 3,129.65
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 336.19
litecoin
Litecoin (LTC) $ 134.43
eos
EOS (EOS) $ 2.64
okb
OKB (OKB) $ 23.40
tezos
Tezos (XTZ) $ 4.41
leo-token
LEO Token (LEO) $ 7.59
cardano
Cardano (ADA) $ 1.18
monero
Monero (XMR) $ 179.72
stellar
Stellar (XLM) $ 0.241398
chainlink
Chainlink (LINK) $ 18.45
huobi-token
Huobi Token (HT) $ 10.03
tron
TRON (TRX) $ 0.068574
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 113.48
neo
NEO (NEO) $ 23.12
iota
IOTA (MIOTA) $ 0.99721
nem
NEM (XEM) $ 0.118644
zcash
Zcash (ZEC) $ 134.25
maker
Maker (MKR) $ 2,211.78
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 32.40
vechain
VeChain (VET) $ 0.064926
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 46.67
kucoin-shares
KuCoin Token (KCS) $ 20.30
waves
Waves (WAVES) $ 10.55