Valkyrie has filed for an exchange-traded fund (ETF) that will invest the majority of its net assets in companies focused on bitcoin mining.
The issuer filed a post-effective amendment for the Valkyrie Bitcoin Miners ETF today. The fund plans to invest 80% of its assets in securities related to companies that derive at least 50% of their revenue from activities related to bitcoin mining, like providing specialized chips, hardware or software.
The fund won't hold any bitcoin, directly or indirectly, although it may invest up to 20% of its net assets in firms that hold bitcoin on their balance sheets. The risk disclosures point out that the fund could be impacted by the price movements of the cryptocurrency.
Valkyrie has recently launched other funds focused on the bitcoin ecosystem. Though it has not yet managed to get its spot bitcoin ETF through the Securities and Exchange Commission (SEC), it successfully brought a bitcoin futures ETF to market in October of last year. In December of last year, it launched the Valkyrie Balance Sheet Opportunities ETF, which invests in publicly traded firms that hold bitcoin on their balance sheet.
TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.