Valkyrie files for bitcoin mining ETF

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.


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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. 

The product plans to list on Nasdaq.

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Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to or follow her on Twitter for updates @AislinnKeely.