Valkyrie Funds Converts Bitcoin Futures ETF to Dual Bitcoin Futures and Ether Futures ETF
02 Octubre 2023 - 3:00PM
Business Wire
The leader in digital asset ETF offerings
brings combined Ether futures (“Ether Futures”) and Bitcoin futures
(“Bitcoin Futures”) exposure under a single ETF wrapper for U.S.
investors
Valkyrie Funds, LLC (“Valkyrie”), a leading digital asset
investment management company, is excited to announce the
first-of-its-kind dual cryptocurrency futures ETF: Valkyrie Bitcoin
and Ether Strategy ETF (Nasdaq: BTF) (the “Fund”). The Fund, which
will continue to offer investors exposure to Bitcoin Futures and
now will offer exposure to Ether Futures up to 50%, will begin
trading under the new investment strategy, effective October 3rd,
2023 (the “Conversion”).
“Valkyrie prides itself on the commitment to delivering
innovative solutions to investors and institutions who want
exposure to cryptocurrency with the convenience of a commonly used
investment vehicle,” says Leah Wald, CEO of Valkyrie. “I am
exceptionally proud of the team who worked diligently with our
counterparties and regulators to bring this new opportunity to
market.”
The successful Conversion of the Fund will bring investors an
entirely new way to gain exposure to the two largest
cryptocurrencies by market capitalization in one simplified and
accessible ETF through futures contracts.
"Our successful Conversion represents a breakthrough in the
world of cryptocurrency investing for investors here in the
States,” said Steven McClurg, CIO of Valkyrie. “By offering
exposure to both Bitcoin Futures and Ether Futures contracts, we
are providing investors with a unique and secure opportunity to
diversify their portfolios and gain exposure within the rapidly
expanding digital asset industry. We are excited to pioneer this
innovative product and believe it will allow investors greater
flexibility in capturing potential growth opportunities in this
space."
The Fund will now track the value of Ether Futures and Bitcoin
Futures. To learn more about the fund visit:
https://valkyrie-funds.com/btf.
About Valkyrie
Valkyrie 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, Valkyrie aims to provide exposure to the emerging
digital asset class through traditional financial vehicles.
Valkyrie 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.
Disclaimers
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 Fund’s prospectus contains this and other
important information and can be found at this link:
https://valkyrie-funds.com/btf/btf-prospectus/. Read it
carefully before investing.
Bitcoin, Bitcoin Futures, Ether and Ether 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 in the Fund 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, Bitcoin Futures,
Ether and Ether Futures have historically been highly volatile. The
value of the Fund’s investments in Bitcoin Futures, Ether Futures
and other instruments that provide exposure to Bitcoin, Bitcoin
Futures, Ether and Ether 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. The price and performance of
cryptocurrency futures and cryptocurrency-linked instruments or
assets should be expected to differ from the current “spot” prices
(the prices at which the cryptocurrency can be purchased
immediately) of those same currencies. These differences could be
significant. Cryptocurrency futures are subject to costs, margin
requirements, collateral requirements, and other limits that may
negatively impact their performance or the performance of an
investment vehicle which utilizes them. Cryptocurrencies are
largely unregulated and cryptocurrency-linked investments may be
more susceptible to fraud and manipulation than more regulated
investments. Cryptocurrencies and cryptocurrency futures are
subject to rapid price swings including as a result of actions and
statements by influencers and the media, changes in the supply and
demand for the cryptocurrency or their futures, and other factors.
If a fund’s ability to obtain exposure to cryptocurrency-linked
investments consistent with their investment objectives is
disrupted for any reason, including as a result of a lack of
liquidity, volatility, or a disruption in the cryptocurrency or
cryptocurrency futures market, or as a result of margin
requirements, position limits, or other conditions, factors, or
limitations of a particular fund, the fund may not be able to
achieve its investment objective and may experience significant
losses. Cryptocurrencies are subject to unique and substantial
risks, including significant price volatility and lack of
liquidity. The value of a cryptocurrency may decline significantly
without warning, including to zero. Cryptocurrencies are largely
unregulated and cryptocurrency-linked investments may be more
susceptible to fraud and manipulation than more regulated
investments. If a fund’s ability to obtain exposure to
cryptocurrency-linked investments consistent with their investment
objectives is disrupted for any reason, including as a result of a
lack of liquidity, volatility, or a disruption in the
cryptocurrency or cryptocurrency futures market, or as a result of
margin requirements, position limits, or other conditions, factors,
or limitations of a particular fund, the fund may not be able to
achieve its investment objective and may experience significant
losses.
Certain Definitions: “futures” are derivatives contracts in
which the purchaser agrees to buy or sell a specific quantity of an
underlying asset on a particular date in the future; “derivatives”
are investments that derive their value from the price of the
underlying asset. The Fund is distributed by ALPS Distributors,
Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20231002281523/en/
Tova Kaufmann Gregory FCA for Valkyrie Funds 469.585.9410
tova@gregoryfca.com
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