Roughly two weeks from application to stock market listing — are crypto investments becoming that much more acceptable to US regulators?
), but at least 80% of its net assets will be through securities of companies that “derive at least 50% of their revenue or profits” from BTC mining or providing hardware or software related to mining. The filing added Valkyrie would invest up to 20% of the ETF’s net assets in companies holding “a significant portion of their net assets” in Bitcoin.
Valkyrie’s offering resembles the Digital Asset Mining ETF proposed by asset manager VanEck in December. The asset manager said it planned to invest 80% of its total assets in securities from crypto mining firms, with the SEC expected to reach a decision on the fund or extend the deadline by Feb. 14.
In October, Valkyrie became one of the first asset managers to offer indirect exposure to crypto through cash-settled contracts its Bitcoin Strategy ETF. At the time of publication, shares of the fund trade on the Nasdaq for $17.01, having gained more than 20% since dipping to $14.12 on Feb. 3.
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