Valkyrie ETF with exposure to Bitcoin launched today on Nasdaq

Valkyrie’s latest SEC-approved ETF, the Valkyrie Balance Sheet Opportunities ETF (VBB) offers exposure to Bitcoin and was launched two days ago on the Nasdaq Stock Exchange.

SEC-approved Valkyrie ETF with exposure to Bitcoin

Introducing the Valkyrie Balance Sheet Opportunities ETF (Nasdaq: VBB). Launching today on @Nasdaq. Disclosures in bio. pic.twitter.com/YgiyQcDPPW

— Valkyrie (@ValkyrieFunds) December 15, 2021

“Opportunities ETF (Nasdaq: VBB). Launching today on Nasdaq. Disclosures in bio”.

According to the document filed with the SEC, the Valkyrie Balance Sheet Opportunities ETF will invest at least 80% of its net assets in the stocks of US companies with “innovative balance sheets”, such as custodial companies, exchanges or traders, that have exposure to Bitcoin. 

The document specifies as follows:

“[Valkyrie’s ETF will invest in the] broader bitcoin ecosystem includes, but is not limited to, bitcoin trading platforms, bitcoin miners, bitcoin custodians, digital wallet providers, companies that facilitate payments in bitcoin, and companies that provide other technology, equipment or services to companies operating in the bitcoin ecosystem”.

To give an idea in numbers, the Valkyrie ETF will be able to invest up to 10% of its net assets in stocks of BTC mining companies and 5% in stocks of pool investment vehicles in the US that hold BTC.

At the time of publication, the fund’s shares under the ticker VBB are trading at $24.48, having fallen more than 1.5% since launching on Wednesday.

Valkyrie ETF with exposure to Bitcoin after BTC Futures ETF

This latest offering of Valkyrie ETF with exposure to Bitcoin comes two months after the approval of the Bitcoin Futures ETF, the Bitcoin Strategy ETF (Nasdaq: BTF), which debuted on Nasdaq on exactly 22 October 2021.

Shares of the BTF fund are currently trading for $18.70, down about 27% since its opening day. 

The SEC’s approval of the Bitcoin Strategy ETF, came 3 days after the opening of the dances on Bitcoin Futures ETFs inaugurated by ProShares listed on the NYSE. 

Bitcoin: PlanB predicts $100,000 by year-end but price drops

While everyone is betting on Bitcoin, either directly or indirectly, the price of BTC has fallen by 4% in the last 24 hours to below $47,000.

Yet, despite this bear market of the past two weeks, renowned cryptocurrency quant analyst, PlanB has expressed his prediction. According to PlanB, the price of Bitcoin will reach $100,000 by the end of the year, and then aim for $200,000 and above in 2022. 

The 100k target is a bit of a gamble, considering that there are only two weeks left until the end of 2021, but certainly not impossible when it comes to Bitcoin which over the years has shown how its price volatility has nevertheless defined its bullish trend over the long term.