Valkyrie Investments Joins Wave of Companies Applying for Spot Bitcoin ETFs

Valkyrie is seeking to establish a Bitcoin spot exchange-traded fund (ETF), aligning itself with numerous other financial entities that have submitted comparable applications to the U.S. Securities and Exchange Commission (SEC) over the past week. 

On June 21st, Valkyrie submitted an S-1 registration form for a Bitcoin spot ETF to the SEC, stating its intention to list the fund on Nasdaq under the ticker BRRR.

Valkyrie introduced the second Bitcoin futures ETF in the U.S., the Valkyrie Bitcoin Strategy ETF (BTF), in October 2021, and subsequently launched the Valkyrie Balance Sheet Opportunities (VBB) in December of the same year. However, VBB was liquidated by October 2022. 

Valkyrie also manages the Valkyrie Bitcoin Miners ETF (WGMI), which follows the securities of companies whose revenues or earnings are tied to Bitcoin mining.

On May 16th, Valkyrie submitted an application for a Bitcoin futures ETF, tentatively named the Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFD). Unlike the company's proposed Bitcoin spot ETF, which is planned as a trust, the BTFD would take the form of a fund.