Valkyrie Applies to List Bitcoin Miners ETF on Nasdaq

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Crypto asset manager Valkyrie has applied to the U.S. Securities and Exchange Commission (SEC) to list its exchange-traded fund (ETF) offering exposure to stocks in Bitcoin ( $76,195.00 ) mining companies on Nasdaq.

The Valkyrie Bitcoin ( $76,195.00 ) Miners ETF will invest at least 80% of its net assets in securities of firms that derive a minimum of 50% of their profit from Bitcoin ( $76,195.00 ) mining, according to a filing with the SEC Wednesday.
Following the SEC’s reluctance to approve a spot Bitcoin ( $76,195.00 ) ETF, asset managers and investment firms have turned to products offering exposure to the futures market or companies that are themselves exposed to Bitcoin ( $76,195.00 ) in other ways, such as mining or holding crypto on their balance sheets.
Valkyrie’s miners ETF is similar in composition to one from VanEck, which applied to the SEC to launch a digital asset mining fund in December last year.
In October, Valkyrie became the third firm to win SEC approval to list a Bitcoin ( $76,195.00 ) futures ETF, following ProShares and VanEck.
The proposed fund will charge a management fee of 0.75% and incorporate both U.S. and non-U.S. companies, including some in emerging market countries as defined by the FTSE Emerging Index.