Alternative Investments/Digital: A New ETF From Valkyrie Invests In Companies That Own Bitcoin

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The new ETF from the digital assets-focused asset manager provides indirect exposure to the leading cryptocurrency.

Valkyrie Funds, LLC announced Wednesday the launch of the Valkyrie Balance Sheet Opportunities ETF (NASDAQ: VBB), an exchange traded fund (ETF) that would invest in forward-looking public companies with exposure to bitcoin. (CISION PR Newswire)

According to the fund manager, more than a dozen publicly traded companies already carry bitcoin on their balance sheets. Moreover, improving adoption of bitcoin is attracting more such corporates, and even countries, towards investing in bitcoin. On the other hand, financial advisors are seeing evidence of increasing interest in bitcoin among their clients. These advisors can now recommend the Valkyrie Balance Sheet Opportunities ETF to these clients for exposure to this digital asset class.

Valkyrie Balance Sheet Opportunities ETF

Thsi actively managed ETF will invest primarily in companies that directly or indirectly invest in, transact in, or have exposure to the bitcoin asset class on their balance sheets, or those that operate within the bitcoin ecosystem.

The fund does not invest directly in bitcoin.

“Bitcoin and digital assets are seeing increasing interest from all corners of the globe,” said Leah Wald, CEO. “The companies with exposure to bitcoin read the tea leaves and have decided to take action in an attempt to preserve their value, but also as another means to potentially generate more returns for shareholders in the decades to come.”

The fund manager previously launched the Valkyrie Bitcoin Strategy ETF (BTF), a bitcoin futures fund.

In October, the SEC approved the Volt Crypto Industry Revolution and Tech ETF that provides investors exposure to companies that hold a majority of their net assets in bitcoin or derive a majority of their profit or revenue from bitcoin-related activities.

Related Story: The Volt ETF, Focused On Bitcoin Companies, Gets SEC Nod

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