NASHVILLE, Tenn., Oct. 22, 2021 /PRNewswire/ -- Valkyrie Funds,
LLC ("Valkyrie"), an emerging investment manager focused on
the digital asset class, is excited to announce the launch of the
Bitcoin Strategy ETF (Nasdaq: BTF). An exchange traded fund (ETF)
that aims to solely track the value of Chicago Mercantile Exchange
(CME) Bitcoin futures.
Bitcoin and other digital assets are becoming an increasingly
valuable part of peoples' investing strategies. About 21 million
Americans already own crypto, and that number is set to more than
double to 51 million in the next year, according to a recent survey
by Gemini. As more and more people become familiar and comfortable
with this new asset class, they are seeking regulated products to
invest in on platforms they currently use and enjoy.
"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.
About Valkyrie Funds LLC
Valkyrie Funds LLC ("Valkyrie Funds") is a specialized
alternative financial services firm at the intersection of
traditional finance and the emerging cryptocurrency sector whose
affiliates aim to offer asset management, research and other
services. Headquartered in Nashville with offices across the United
States,Valkyrie Funds aims to provide exposure to the emerging
digital asset class through traditional financial vehicles.
Valkyrie Funds is led by seasoned asset managers who have
previously launched multiple ETFs, publicly traded funds and
Exchange Traded Products, including digital asset funds with
backgrounds across Guggenheim Partners, UBS, Chicago Board of Trade, Chicago Mercantile
Exchange, and The World Bank.
Investment Objective
The Valkyrie Bitcoin Strategy ETF (BTF) is an actively managed
ETF. The Fund seeks to provide investors with capital appreciation.
There can be no assurance that the Fund will achieve its investment
objective.
Disclaimer
This press release does not constitute a recommendation of any
investment strategy or product for a particular investor. Investors
should consult a financial advisor/financial consultant before
making any investment decisions.
Investing involves risks. The loss of principal is possible.
The Fund's investment objectives, risks, charges and expenses
should be considered before investing. The fund may not be suitable
for all investors. The prospectus contains this and other important
information, and it may be obtained at
https://valkyrie-funds.com/. Read it carefully before
investing
Shares of ETFs are bought and sold at market price (not NAV) and
are not individually redeemed from the Fund. Any applicable
brokerage fees and commissions will reduce returns.
The Fund invests in bitcoin futures contracts. The Fund does not
invest directly in or hold bitcoin. The price of bitcoin futures
should be expected to differ from the current price of bitcoin. As
a result, the performance of the Fund should be expected to differ
from the performance of the spot price of bitcoin. Futures
contracts are subject to margin requirements, collateral
requirements and daily limits that may prevent the Fund from
achieving its objective. The market for bitcoin futures may be less
developed, less liquid and more volatile than more established
futures markets.
Bitcoin futures contracts are an agreement traded on an
organized exchange to buy or sell assets, such as Bitcoin, at a
fixed price. Typically, these assets are delivered and paid for
later. In this case, the cash value of the asset would be the
deliverable.
Derivatives are financial contracts that derive their value from
an underlying asset, in this case Bitcoin. They are commonly used
to evaluate downside or upside risk and can be used as a hedge
against said risk.
The Fund is distributed by ALPS Distributors, Inc.
This is a new ETF with limited operating history.
Bitcoin and bitcoin futures are a relatively new asset class.
They are subject to unique and substantial risks, and historically,
have been subject to significant price volatility. The value of an
investment in the Fund could decline significantly and without
warning, including to zero. You should be prepared to lose your
entire investment.
The Shares will change in value, and you could lose money by
investing in the Fund. The Fund may not achieve its investment
objective.
Market Risk
The prices of bitcoin and bitcoin futures have historically been
highly volatile. The value of the Fund's investments in bitcoin
futures and other instruments that provide exposure to bitcoin and
bitcoin futures – and therefore the value of an investment in the
Fund – could decline significantly and without warning, including
to zero. If you are not prepared to accept significant and
unexpected changes in the value of the Fund and the possibility
that you could lose your entire investment in the Fund you should
not invest in the Fund.
Media contact
Ryan
Gorman
Principal, RGPR
ryan@gormanstrategies.com
646-820-4212
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SOURCE Valkyrie Investments
