Valkyrie joins race for spot bitcoin ETF with Wednesday SEC filing

Quick Take

  • Valkyrie Funds, which already offers a Bitcoin Strategy ETF and a Bitcoin Miners ETF, is joining the race for the first spot bitcoin ETF.

Valkyrie Funds, which already offers a Bitcoin Strategy ETF and a Bitcoin Miners ETF, is joining the race for the first spot bitcoin ETF with a new filing submitted to the U.S. Securities and Exchange Commission on Wednesday. 

Called the Valkyrie Bitcoin Fund, the ETF will hold bitcoin to reflect the performance of the CME CF Bitcoin Reference Rate, New York Variant. The trust intends to list shares on the Nasdaq exchange under the ticker BRRR.

The SEC has yet to approve a spot bitcoin EFT. WisdomTree, Invesco and BlackRock have all filed for spot bitcoin funds over the past week. 

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The price of the world's largest crypto by market capitalization has surged with the interest, rising 16% over the past week. It rose 6.3% on Wednesday to trade at $30,114, according to TradingView


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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.