Valkyrie Launches Innovative Balance Sheet ETF


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Issuer Valkyrie Funds yesterday launched a new exchange-traded fund (ETF) that holds public companies with bitcoins on the balance sheet.

The Valkyrie Balance Sheet Opportunities ETF aims to provide investors with exposure to bitcoin by owning companies that directly or indirectly invest, make or hold bitcoin on their balance sheets. This includes companies like MicroStrategy, Block (formerly Square), Tesla, Coinbase, and PayPal, among others.

The fund plans to limit its exposure to mining companies in order to mitigate risks associated with companies that deal directly in the bitcoin ecosystem, Valkyrie Funds co-founder Steven McClurg told the TD Ameritrade Network.

As of the close today, the fund had $ 635,549.12 under management. Shares changed hands to $ 24.47 at Close.

“Overall, we’re happy with the reception VBB has received and look forward to helping spread the gospel of why companies that allocate to Bitcoin tend to outperform their peers that don’t.” said Leah Wald, CEO of Valkyrie Funds. “At the end of the day, we know this fund has a longer tail in terms of education and we are eager to take on this challenge.”

Valkyrie also provided ETF-based bitcoin exposure through its bitcoin futures ETF, which began trading in late October after a significant advance towards a bitcoin-focused ETF. This product posted a volume of $ 78 million on the day it opened.

Still, a spot bitcoin ETF has yet to hit the market. Valkyrie currently has an offer to the Securities and Exchange Commission and expects a response by Jan. 1, 2022. Two other requests in this round have already been denied.

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