No Gimmicks, No Marketing Stunts, Just Bitcoin: Introducing the Valkyrie Bitcoin Fund
12 January 2024 - 1:00AM
Business Wire
Valkyrie combines its expertise in investment
management, successful crypto track record to launch one of the
first spot bitcoin ETFs in the U.S.
Valkyrie Investments Inc. (“Valkyrie”), a specialized digital
asset investment management company, is proud to announce the
launch of the Valkyrie Bitcoin Fund (NASDAQ: BRRR) (the “Fund”),
which is sponsored by Valkyrie’s subsidiary, Valkyrie Digital
Assets LLC (the “Sponsor”). The Valkyrie Bitcoin Fund is an
exchange-traded fund (“ETF”) that invests in bitcoin, giving
investors sophisticated but simplified access to the digital
commodity without the hassle that comes with accessing bitcoin via
other methods. The Sponsor will waive the sponsor fees for BRRR for
the first three months of trading.
Valkyrie is solely focused on leveraging its track record of
investment management expertise and dedicated crypto knowledge with
the goal to deliver the best possible investment product for
institutions, advisors and investors, rather than spending millions
of dollars on marketing stunts and gimmicks like other Spot Bitcoin
ETF issuers.
“Bitcoin’s potential has still yet to be realized fully and only
a small subset of the world understands the legitimate impact this
asset will have on the global economy,” says Steven McClurg, CIO of
Valkyrie. “For bitcoin to realize its full potential we need to
move away from gamifying this space and treat it like the
sophisticated and seasoned asset class that it is. For serious
investors who want exposure to bitcoin, we believe that our
specialized crypto expertise makes us the right manager for
them.”
Valkyrie was founded with the intention of delivering
high-quality, digital-asset focused ETFs and investment products.
Valkyrie was among the pioneers in delivering bespoke,
actively-managed crypto funds at the institutional level. The
nimble team brings exceptional pedigrees that span traditional
finance and crypto with backgrounds across firms such as Guggenheim
Partners, UBS, Rydex Funds, Chicago Board of Trade, Chicago
Mercantile Exchange, and The World Bank.
“The launch of BRRR has been in the making for nearly three
years, and the Valkyrie team has worked tirelessly with regulators
and institutional partners to bring this fund to life. I am
exceptionally proud to see this fund live and trading – it’s a
remarkable milestone for digital assets and for Valkyrie,” says
Leah Wald, CEO of Valkyrie. “This is just the beginning of a new
wave and we’re proud to be leaders in delivering a breakthrough
product with big plans ahead.”
To learn more, or invest, in the Valkyrie Bitcoin Fund, click
here.
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.
Disclosures and Risks
Investing Involves Risks. The loss of principal is
possible. The Fund may not be suitable for all investors. Investors
should consult a financial advisor/financial consultant before
making any investment decisions.
The Fund’s investment objectives, risks, charges and expenses
should be considered before investing. The prospectus
contains this and other important information, and it may be
obtained at https://www.valkyrieinvest.com/brrr/.
Read it carefully before investing.
Bitcoin trading prices are volatile and shareholders could lose
all or substantially all of their investment in the Fund. This is a
new ETF with limited operating history. Shares of ETFs are bought
and sold at market price (not NAV) and are not individually
redeemed from the Fund. Any applicable brokerage fees and
commissions apply and will reduce returns.
Bitcoin Investing Risk. The Fund invests in bitcoin.
Bitcoin is a relatively new and highly speculative investment. The
risks associated with bitcoin include the following:
Bitcoin is a new technological innovation with a limited
history. There is no assurance that usage of bitcoin will continue
to grow. A contraction in use of bitcoin may result in increased
volatility or a reduction in the price of bitcoin, which could
adversely impact the value of the Fund. The Bitcoin Network was
launched in January 2009, platform trading in bitcoin began in
2010, which limits a potential shareholder’s ability to evaluate an
investment in the Fund.
The Fund is exposed to risks associated with the price of
bitcoin, which is subject to numerous factors and risks. The price
of bitcoin is impacted by numerous factors, including:
- The total and available supply of bitcoin,
including the possibility that a small group of early bitcoin
adopters hold a significant proportion of the bitcoin that has thus
far been created and that sales of bitcoin by such large holders
may impact the price of bitcoin;
- Global bitcoin demand, which is influenced by
the growth of retail merchants’ and commercial businesses’
acceptance of bitcoin as payment for goods and services, the
security of online bitcoin exchanges and public bitcoin addresses
that hold bitcoin, the perception that the use and holding of
bitcoin is safe and secure, the lack of regulatory restrictions on
their use, and the reputation regarding the use of bitcoin for
illicit purposes;
- Global bitcoin supply, which is influenced by
similar factors as global bitcoin demand, in addition to fiat
currency (i.e., government currency not backed by an asset such as
gold) needs by miners and taxpayers who may liquidate bitcoin
holdings to meet tax obligations;
- Investors’ expectations with respect to the
rate of inflation of fiat currencies and deflation of bitcoin;
- Foreign exchange rates between fiat currencies
and digital assets such as bitcoin;
- Interest rates;
- The continued operation of bitcoin exchanges
in the United States and foreign jurisdictions, including their
regulatory status, trading and custody policies, and cyber
security;
- Investment and trading activities of large
investors, including private and registered funds, that may
directly or indirectly invest in bitcoin;
- Regulatory measures, if any, that restrict the
use of bitcoin as a form of payment or the purchase or sale of
bitcoin, including measures that restrict the direct or indirect
participation in the bitcoin market by financial institutions or
the introduction of bitcoin instruments;
- The maintenance and development of the
open-source software protocol of the Bitcoin Network;
- Increased competition from other
cryptocurrencies and digital assets, including forks of the Bitcoin
Network;
- Developments in the information technology
sector;
- Global or regional political, economic or
financial events and situations;
- Investor or Bitcoin Network participant
sentiments on the value or utility of bitcoin; and
- The dedication of mining power to the Bitcoin
Network and the willingness of bitcoin miners to clear bitcoin
transactions for relatively low fees.
Negative developments in any of these factors
could adversely impact an investment in the Fund.
A decline in the adoption of bitcoin could negatively impact the
performance of the Fund. As a new asset and technological
innovation, the bitcoin industry is subject to a high degree of
uncertainty. The adoption of bitcoin will require growth in its
usage for various applications that include retail and commercial
payments, cross-border and remittance transactions, speculative
investment and technical applications.
Paralel Distributors LLC (“Paralel”) is the marketing agent for
the Valkyrie Bitcoin Fund. Paralel is not affiliated with Valkyrie
Investments Inc. or Valkyrie Digital Assets LLC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240111392503/en/
Trevor Davis, Gregory FCA for Valkyrie 215-475-5931
trevor@gregoryfca.com
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