Crypto asset manager Valkyrie will liquidate its Balance Sheet Opportunities exchange-traded fund (ETF) at the end of October and then delist from Nasdaq.
See related article: What the Bitcoin futures ETF bonanza means for investors
Fast facts
- Valkyrie said that the liquidation and delisting is a part of an “ongoing review of products” and discontinuing the fund is the best action, according to the press release.
- The fund is one of Valkyrie’s three ETF products.
- Instead of investing directly in bitcoin spot or futures, the fund targeted stocks of companies that have exposure to bitcoin or are related to bitcoin.
- The fund has the most exposure to Tesla stock, followed by software maker Microstrategy. The fund also holds shares in crypto payment service provider Block Inc and crypto exchange Coinbase.
- The price of the ETF has dropped 54% year-to-date, trading at US$11.35 at 3 p.m. Hong Kong time.
See related article: Markets: Bitcoin price falls with Ether. Doge sole gainer in top 10 cryptocurrencies
