October 22, 2021 - Valkyrie Funds, LLC ("Valkyrie"), an emerging investment manager focused on the digital asset class, has launched its Bitcoin Strategy ETF (Nasdaq: BTF). BTF An exchange traded fund (ETF) that aims to solely track the value of Chicago Mercantile Exchange (CME) Bitcoin futures.
"This Bitcoin Strategy ETF is a major leap forward for this asset class," said Leah Wald, CEO at Valkyrie. "It enables investors to participate in the digital asset markets through a regulated, transparent product that trades on a trusted, reliable exchange and can be bought and sold as easily as any other investment currently available."
Bitcoin futures are fully regulated in the U.S. on the Chicago Mercantile Exchange ("CME") and are becoming an increasingly popular investment vehicle for both individuals and institutions. The goal of this actively managed fund is to track the value of these products in a liquid basket of securities. By doing so, BTF provides exposure to a wider audience of investors, advisors and more, without the pitfalls and hurdles typically associated with investing directly in crypto assets.
"The approval of ETFs based on CME Bitcoin futures is a positive development for the broader bitcoin ecosystem, and a reflection of the strong growth and client demand for exposure to bitcoin via our transparent, deeply liquid and regulated futures contracts," said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. "The introduction of funds, like the Valkyrie Bitcoin Strategy ETF, mark an important milestone for crypto derivatives, and will be highly complementary to futures, creating new opportunities for a broad array of institutional and retail investors."
The futures contracts held by the fund are cash delivered and available from CME Group. This fund is the first in a planned suite of ETFs from Valkyrie designed to enable investors to participate in the blockchain and digital asset space.
The Valkyrie Bitcoin Strategy ETF (BTF) is an actively managed ETF seeking to provide investors with capital appreciation by investing in CME-listed Bitcoin Futures. The Fund Summary Prospectus can be downloaded here.
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