On Dec. 15, crypto firm Valkyrie Investments — which recently launched the second Bitcoin-futures exchange traded fund (ETF) — launched the Balance Sheet Opportunities ETF, trading as VBB on Nasdaq, “to meet the rising demand for crypto investing in an easy way.”
See: How Much You Would Have If You Invested Your Stimulus Money in Cryptocurrency
Find: Jack Dorsey Says Bitcoin Will Replace the Dollar
The fund is an actively managed ETF that invests in innovative public companies with exposure to Bitcoin: companies that directly or indirectly invest in, transact in, or otherwise have exposure to Bitcoin, per the fund’s prospectus.
“This fund is meant to satisfy the needs of any investor that wants to invest in companies with exposure to Bitcoin without the risks of holding spot Bitcoin such as security, custody, a lack of familiarity with various trading venues, and more,” Brian McQuade, director of business development at Valkyrie Investments, told GOBankingRates.
McQuade explained that the launch was prompted by a series of discussions with investment and financial advisors. The topic? How to best meet the rising demand for crypto investing in a familiar, easy to understand product that is available in traditional investment and retirement accounts.
Related: Bitcoin-Backed Mortgage Product To Launch in 2022 Thanks to $70 Million Funding Round
“Also, this is a product that aligns well with our philosophy of bringing crypto asset investments to the broader public, and with our belief that companies holding Bitcoin on their balance sheet may outperform those that don’t,” McQuade said.
VBB’s top holdings include MicroStrategy, Block, Coinbase, Tesla, Global, Paypal, MasterCard, BlackRock and Robinhood, according to the fund’s brochure.
“The Fund will not invest in bitcoin directly or indirectly through the use of derivatives. Investors seeking direct exposure to the price of bitcoin should consider another investment other than…
