At least 80% of the investment's net assets are through securities that “derive at least 50% of their revenue or profits” from Bitcoin mining.
Crypto asset manager Valkyrie will have an exchange-traded fund (ETF) with exposure to Bitcoin mining firms available for trading on the Nasdaq Stock Market starting Tuesday.
filing with the Securities and Exchange CommissionofferBTC
Valkyrie’s offering resembles the Digital Asset Mining ETF proposed by asset manager VanEck in December. The asset manager said it planned to invest 80% of its total assets in securities from crypto mining firms, with the SEC expected to reach a decision on the fund or extend the deadline by Feb. 14.
Related: Canadian Bitcoin ETF sees its third-biggest daily inflow ever
The SEC has not approved Bitcoin spot ETFs in the United States despite criticism from some lawmakers and industry leaders that the lack of regulatory clarity is holding the country back on the world stage regarding innovative investment vehicles. In contrast, Canadian regulators approved a Bitcoin ETF and Bitcoin Mutual Fund from Fidelity Canada for listing on the Toronto Stock Exchange in December, while investment firm Purpose’s Bitcoin ETF was given the green light in February 2021.
from Cointelegraph.com News https://ift.tt/sp6S8t0
No comments:
Post a Comment