Crypto asset manager Valkyrie will have an ETF with exposure to mining companies available for trading on the stock market starting tomorrow.
A Valkyrie spokesperson told Cointelegraph that the firm’s Bitcoin Miners ETF will begin trading on the Nasdaq on Tuesday. According to a Jan. 26 filing with the Comision de Valore, the investment vehicle will not offer direct exposure to Bitcoin (), but at least 80% of its net assets will be through securities of companies that “derive at least 50 % of your income or profits” from mining BTC or supplying hardware or software related to mining. The filing added that Valkyrie would invest up to 20% of the ETF’s net assets in companies that have “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 of cryptocurrency mining companies, with the SEC expected to make a decision on the fund or extend the deadline to February 14.
In October, Valkyrie became one of the first asset managers to offer indirect exposure to cryptocurrencies through cash-settled contracts when it launched its Bitcoin Strategy ETF. At press time, the fund’s shares are trading on the Nasdaq at $17.01, having gained more than 20% since falling to $14.12 on Feb. 3.
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