Valkyrie Investments’ subsidiary has submitted a filing with the SEC to launch an exchange-traded fund (ETF) based on the current value of Bitcoin.
This ETF, known as the Valkyrie Bitcoin Fund, intends to store cryptocurrency and track the effective value of the asset on the CME CF index.
The fund will be administered by Valkyrie Digital Assets and has proposed to be listed on the Nasdaq using the ticker symbol BRRR. October 2021 marked the approval of the Valkyrie Bitcoin Strategy ETF, which is based on futures, from the regulator.
The following February, the company launched an ETF disk that follows a group of stocks from companies mining Bitcoin.
That same month, the Valkyrie ETFs based on the quotes of companies investing in, trading, or holding digital gold as a reserve asset were liquidated.
Other companies such as BlackRock, WisdomTree, and Invesco have submitted applications for a spot exchange-traded Bitcoin fund in June 2023.
