YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Valkyrie Funds to Liquidate Bitcoin-Focused Investment Vehicle

October 12, 2022
in Crypto News
Reading Time: 2 mins read
A A
Valkyrie Funds to Liquidate Bitcoin-Focused Investment Vehicle
ShareShareShareShareShare

The leading crypto asset manager Valkyrie Funds, is all set to liquidate one of the exchange-traded funds (ETFs) it manages.

According to the official press release, the company plans to close its Valkyrie Balance Sheet Opportunities FUND (VBB), an investment product offering indirect exposure to BTC.

  • The soon-to-be-delisted fund, under the ticker VBB, was first launched in December 2021 and granted exposure to the securities of US companies with Bitcoin on their balance sheets.
  • The ETF does not invest in bitcoin directly or indirectly through the use of derivatives; rather, it tracks companies like crypto custodians, exchanges, and trading firms.
  • After the liquidation, the fund will be delisted from the Nasdaq Exchange.
  • Valkyrie said the decision was taken after thorough consultation with the Board of Directors and agreed that the best course of action for all involved will be discontinuing the fund.
  • The trading day will conclude on October 28th. Till then, shareholders may sell their shares.
  • The fund manager argued that the move to close this fund will not have any impact on potential brokerage fees due as a result of said transaction.
  • Shareholders still holding shares of the fund at liquidation will receive a cash redemption for the net asset value (NAV) of their shares.
  • The announcement also noted that, aside from brokerage expenses, Valkyrie will satisfy expenses with respect to the liquidation and potential distribution of cash proceeds.
  • Apart from VBB, Valkyrie still manages other funds, including Valkyrie Bitcoin Miners ETF (WGMI), which recently scored approval from the SEC for trading on Nasdaq.
  • Earlier this year, Valkyrie’s XBTO Bitcoin Futures Fund was given a green light by the regulatory agency.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

You might also like

Will Shiba Inu’s Shibarium launch on the 14th of February? Lead developer shares updates

Will Shiba Inu’s Shibarium launch on the 14th of February? Lead developer shares updates

February 2, 2023
Crypto Gaming Arcade, Metacade, Has Potential to 10X in 2023! Here’s What You Need to Know

Crypto Gaming Arcade, Metacade, Has Potential to 10X in 2023! Here’s What You Need to Know

February 2, 2023

Credit: Source link

Related Stories

Will Shiba Inu’s Shibarium launch on the 14th of February? Lead developer shares updates
Crypto News

Will Shiba Inu’s Shibarium launch on the 14th of February? Lead developer shares updates

February 2, 2023
Crypto Gaming Arcade, Metacade, Has Potential to 10X in 2023! Here’s What You Need to Know
Crypto News

Crypto Gaming Arcade, Metacade, Has Potential to 10X in 2023! Here’s What You Need to Know

February 2, 2023
Cosmos (ATOM), Helium (HNT) and Orbeon Protocol (ORBN)
Crypto News

Cosmos (ATOM), Helium (HNT) and Orbeon Protocol (ORBN)

February 2, 2023
Reliance Retail Adds Support for India’s CBDC
Crypto News

Reliance Retail Adds Support for India’s CBDC

February 2, 2023
Next Post
Retail crypto investment trends and attitudes – EndoTech key findings

Retail crypto investment trends and attitudes – EndoTech key findings

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

NFT Collection Bricktopians by Law Degree Price, Stats, and Revie…

NFT Collection Bricktopians by Law Degree Price, Stats, and Revie…

January 29, 2023
Silvergate suspends payment of dividend on preferred stock

Silvergate suspends payment of dividend on preferred stock

January 27, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 23,594.00 0.72%
    • ethereumEthereum (ETH) $ 1,650.07 0.3%
    • tetherTether (USDT) $ 1.00 0.03%
    • bnbBNB (BNB) $ 324.78 2.27%
    • usd-coinUSD Coin (USDC) $ 1.00 0.01%
    • xrpXRP (XRP) $ 0.411718 0.68%
    • binance-usdBinance USD (BUSD) $ 1.00 0.14%
    • cardanoCardano (ADA) $ 0.402457 0.79%
    • dogecoinDogecoin (DOGE) $ 0.091680 3.34%
    • matic-networkPolygon (MATIC) $ 1.19 1.01%
    • okbOKB (OKB) $ 39.81 4.52%
    • solanaSolana (SOL) $ 24.45 2.6%
    • staked-etherLido Staked Ether (STETH) $ 1,643.01 0.24%
    • polkadotPolkadot (DOT) $ 6.59 1.63%
    • shiba-inuShiba Inu (SHIB) $ 0.000012 1.79%
    • litecoinLitecoin (LTC) $ 99.32 1.19%
    • avalanche-2Avalanche (AVAX) $ 21.31 0.68%
    • tronTRON (TRX) $ 0.064201 1.21%
    • uniswapUniswap (UNI) $ 7.19 5.24%
    • daiDai (DAI) $ 1.00 0.03%
    • cosmosCosmos Hub (ATOM) $ 14.48 3.2%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,556.00 0.88%
    • the-open-networkToncoin (TON) $ 2.38 0.77%
    • chainlinkChainlink (LINK) $ 7.15 1.12%
    • leo-tokenLEO Token (LEO) $ 3.36 0%
    • moneroMonero (XMR) $ 172.93 2.8%
    • ethereum-classicEthereum Classic (ETC) $ 22.54 0.52%
    • aptosAptos (APT) $ 17.20 5.56%
    • bitcoin-cashBitcoin Cash (BCH) $ 137.32 1.11%
    • stellarStellar (XLM) $ 0.092229 0.26%
    • apecoinApeCoin (APE) $ 5.92 2.5%
    • quant-networkQuant (QNT) $ 144.73 2.68%
    • nearNEAR Protocol (NEAR) $ 2.46 1.47%
    • filecoinFilecoin (FIL) $ 5.52 4.84%
    • crypto-com-chainCronos (CRO) $ 0.080807 0.43%
    • lido-daoLido DAO (LDO) $ 2.28 0.97%
    • algorandAlgorand (ALGO) $ 0.257996 1.91%
    • hedera-hashgraphHedera (HBAR) $ 0.067624 2.87%
    • vechainVeChain (VET) $ 0.024289 2.35%
    • fantomFantom (FTM) $ 0.605254 5.35%
    • internet-computerInternet Computer (ICP) $ 5.82 4.49%
    • decentralandDecentraland (MANA) $ 0.788194 1.79%
    • axie-infinityAxie Infinity (AXS) $ 11.29 1.1%
    • aaveAave (AAVE) $ 88.75 0.16%
    • the-sandboxThe Sandbox (SAND) $ 0.752679 1.65%
    • eosEOS (EOS) $ 1.08 0.55%
    • flowFlow (FLOW) $ 1.12 1.24%
    • elrond-erd-2MultiversX (EGLD) $ 45.27 2.01%
    • theta-tokenTheta Network (THETA) $ 1.08 1.04%
    • fraxFrax (FRAX) $ 1.00 0.36%