Valkyrie Bitcoin News

Investment management company, CoinShares has exercised the right to acquire Valkyrie Funds, a unit of Valkyrie Investment Inc. following the approval of its spot Bitcoin (BTC) ETF by the Securities and Exchange Commission (SEC).

Prominent Wall Street firms and large institutional investors bought into spot bitcoin (BTCUSD) exchange-traded funds in the second quarter, a sign of a healthy appetite for the products in the traditional financial sector.

Bitcoin mining companies are experiencing a significant decline in their stock prices as they face reduced revenue due to an upcoming code update for the largest cryptocurrency. 

Valkyrie Funds LLC said on Friday it will halt buying of ethereum for the Valkyrie Bitcoin and Ether Strategy ETF and unwind any positions already acquired, a stumbling block in its bid to be the first to bring an exchange traded fund (ETF) tied to the cryptocurrency ethereum to the market. «The Fund will not purchase ether futures contracts until the effectiveness of an amendment to the Fund's registration statement contemplating the addition of ether futures contracts to the principal investment strategy of the Fund,» Valkyrie said in a filing with the Securities and Exchange Commission. «Until such time, the Fund will unwind any existing positions in ether futures contracts.» Valkyrie announced Thursday it had received the green light to acquire ethereum futures contracts as part of the conversion of an existing ETF tied only to Bitcoin to include ethereum.

Invesco and Galaxy Digital aim to introduce a spot Ethereum (ETH) exchange-traded fund (ETF) as more and more asset managers continue to explore digital asset products.

Bitcoin (BTC), the world's largest cryptocurrency, experienced some gains but remained below the $27,000 mark on Friday morning. 

Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the US Securities and Exchange Commission (SEC), the company said on Thursday. The renamed Valkyrie Bitcoin and Ether Strategy ETF will launch on Monday, Valkyrie's chief investment officer Steven McClurg told Reuters.

Asset management firm Valkyrie will begin offering exposure to Ether (ETH) futures to United States investors through its existing Bitcoin Strategy exchange-traded fund, or ETF.

The United States could make up for 99.5% of the global trading volume for crypto-related exchange-traded funds (ETF) — but only if spot Bitcoin ETFs are approved, according to a Bloomberg ETF analyst.

Cryptocurrency fund manager Valkyrie is applying for a Bitcoin spot exchange-traded fund (ETF), joining several other financial firms that have filed similar applications with the United States Securities and Exchange Commission (SEC) in the last week. Valkyrie filed an S-1 registration form for a Bitcoin spot ETF with the SEC on June 21. In it, the firm indicated that it would seek to list its fund on the Nasdaq under the symbol BRRR. 

The share price of cryptocurrency exchange Coinbase has surged by 69% since its all time lows and other crypto-related stocks including business intelligence firm MicroStrategy have recorded similar jumps with green candles all around since the start of 2023.

The crypto-focused exchange-traded fund (ETF) market has seen a topside push in 2023 amid a surge in cryptocurrency prices.

Bitcoin (BTC) and other altcoins started the new year on a bullish note, with most cryptocurrencies surging to multi-month highs. Apart from the spot market, the equity exchange-traded fund (ETF) market is also dominated by BTC, wherein Valkyrie’s Bitcoin Miners ETF (WGMI) is the leading equity ETF market and is up by 40% year to date.

Crypto asset manager Valkyrie has filed an application with the United States Securities and Exchange Commission to trade an exchange-traded fund with exposure to Bitcoin mining firms on the Nasdaq Stock Market.