We know that many institutional investors want exposure to cryptocurrencies, but this desire has been postponed due to some concerns.
Aware of this, investment companies are also looking for ways to provide institutional investors with indirect exposure to cryptocurrencies.
At the beginning of these ways, exchange traded funds (ETFs) come.
Recently, a new ETF move came from Valkyrie. The company had applied to the SEC to list an exchange-traded fund that would invest in Bitcoin mining companies.
Nasdaq announced to the SEC that it has approved the Valkyrie Bitcoin Miner ETF today.
The SEC is now expected to issue its official issuance notice.
listed on Nasdaq Bitcoin mining The details of the ETF, which provides exposure to the stocks of companies, are as follows;
“According to the application Valkyrie Bitcoin Miners ETFwill invest at least 80% of its net assets and at least 50% of its profits in the stocks of Bitcoin mining companies.”
The SEC’s refusal to approve a spot Bitcoin ETF has led many institutional investors to invest in companies that are traded on exchanges and directly related to Bitcoin. In this way, companies that indirectly provide Bitcoin exposure will be offered a new product with this ETF.