Valkyrie launches Balance Sheet Opportunities ETF in the US
Digital asset ETF issuer in the US, Valkyrie Funds LLC, has announced the launch of the Valkyrie Balance Sheet Opportunities ETF (Nasdaq: VBB), an ETF that aims to invest in innovative public companies with exposure to bitcoin.
The firm writes that more than 80 per cent of financial advisers in the US are being asked about cryptocurrencies, according to a recent survey from the Financial Planning Association, but many struggle to effectively allocate clients to this asset class. With more than a dozen publicly traded companies in the US already holding bitcoin, according to data from BuyBitcoinWorldwide, and more corporations, countries, and other entities entering the space with each passing day, investing in these companies provides the kind of indirect exposure that many individuals are seeking.
“Bitcoin and digital assets are seeing increasing interest from all corners of the globe,” says Leah Wald, CEO at Valkyrie. “The companies with exposure to bitcoin read the tea leaves and have decided to take action in an attempt to preserve their value, but also as another means to potentially generate more returns for shareholders in the decades to come.”
More than half of US bitcoin holders first got into the cryptocurrency this year, according to a recent study, and 59 per cent of investors are interested in bitcoin investments - an increase from only 36 per cent just two years ago. VBB offers another avenue for investors to be able to gain exposure to this rapidly growing asset class.
The goal of this actively managed fund is to invest primarily in companies that directly or indirectly invest in, transact in, or have exposure to the bitcoin asset class on their balance sheets, or those that operate within the bitcoin ecosystem. The fund does not invest directly in bitcoin.
This fund is the second in a family of ETFs planned to be offered by Valkyrie Funds designed to enable investors to participate in the digital asset space, the firm says.