Valkyrie requests ETF, which invests in companies that achieve 50 % of their revenue from Bitcoin, mining industry -
Valkyrie requests ETF, which invests in companies that achieve 50 % of their revenue from Bitcoin, mining industry -
The asset manager for digital currencies Valkyrie has applied for a stock market-traded fund (ETF) from the US stock exchange supervisory authority SEC. The fund plans invest at least 80 % of their net assets in companies that achieve at least 50 % of their income from the Bitcoin mining industry.
The ETF proposed by Valkyrie aims on Bitcoin from mining industry
The crypto-asset manager Walküre has applied for a new crypto-focused ETF concentrated. Valkyrie is known for this, the second Bitcoin-Futures-ETF under the ticker " Btf " the name " bito ."
According to a submission to the US IPO supervisory authority, SEC of January 26, 2022, Valkyrie suggests creating a fund that uses companies that achieve income from the Bitcoin mining industry. The company wants to note the ETF on the Nasdaq, the same market on which the stock market traded Bitcoin Futures Fund BTF today.
"The fund is an actively managed stock market-traded fund that invests at least 80 % of its net assets (plus borrowing for investment purposes) in securities from companies that achieve at least 50 % of their income or profits from Bitcoin mining operations and /or from providing specialized chips, hardware and software or other services for companies are ”, explains Valkyrie's file.
The mine of cryptocurrencies has been very profitable in the past 12 months and today the Hashrate from Bitcoin floats just 180 exahash per second (eh/s). Use electricity btc-change courses , the most powerful Bitcoin-Miner with 100 teraHash per second (th/s) or more get $ 14 per day with $ 0.12 per kwh electricity costs.
The recent proposal for Valkyrie, Form N-1A, also explains the risks associated with Bitcoin investments. The application states that the fund will "indirectly expose the risks of an investment in Bitcoin" and that Bitcoin is a "new and highly speculative investment".
The BTF of Valkyrie lost 25 %last month, funds and companies with commitment to Bitcoin follow the price pattern of leading cryptocurrencies
Meanwhile, the BTF of Valkyrie rose by 3.41 % in the last 24 hours and is traded 14.87 per share at the time of writing. 30-day statistics show that BTF lost 25.69 % after it had fallen from $ 20.01 per share a month ago.
Five-day metrics show that BTF lost 10.10 % after it had recovered a few percentage points during the trading sessions on Wednesday. BTF from Valkyrie, Bito of Proshares and the Bitcoin Strategy ETF from Vaneck ( XBTF ) target = "_ blank" class = "lar-automated-link" href = "https://markets.bitcoin.com/crypto/btc" rel = "noopener"> bitcoin ’s market direction exactly.
Other types of funds and listed companies to which are exposed to bitcoin also follow the price patterns of bitcoin.
What do you think of Valkyrie's latest ETF application at the SEC for a fund based on Bitcoin mining? Share your opinion on this topic in the comment area below.
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