A subsidiary of Valkyrie Investments has filed for SEC an application to launch an exchange-traded fund (ETF) based on the spot price of bitcoin.
Valkyrie Bitcoin Fund intends to hold cryptocurrency and track the effective value of the asset on the CME CF index.
According to the filing, the trust will issue shares designed to provide a cost-effective and convenient way to invest in bitcoin.
The fund will be administered by Valkyrie Digital Assets.
The company plans to list shares in the trust on the Nasdaq under the ticker symbol BRRR.
In October 2021, the regulator approved the Valkyrie Bitcoin Strategy ETF based on bitcoin futures.
In February 2022, the company launched an exchange-traded fund that tracks a basket of shares in enterprises that mine the first cryptocurrency.
In October of the same year, Valkyrie liquidated ETFs based on the quotes of companies that directly or indirectly invest, transact or hold digital gold as a reserve asset.
Recall that in June 2023, management companies BlackRock, WisdomTree and Invesco also filed applications to launch a spot exchange-traded bitcoin fund.
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