April 18, 2024


Valkyrie, a serial crypto investor, has declared that he would not invest in BTC straight up but is willing to invest about 75.5% of his assets after-tax deduction in corporations that do earn at least half of their income with the mining of BTC.

 Recently, Valkyrie has declared his interest to list BTC mining-related Exchanged Traded Funded in the stock market (Nasdaq) with the regulatory body of the United States in order to create a massive exposure to the economy.

 One of his statements in the filing read that up to 80% of the company’s assets will bring about a significant awareness to the corporations that have earned up to half from mining bitcoin but that have also acquired the systems and machines needed to mine BTC. He also stated in his filings that he would be investing close to twenty percent on the ETF’s assets after tax deductibility to the corporations that have a strong BTC portfolio. 

Also Read:  Here's Why Metaverse Cryptos Lead Market Recovery Following Recent Crash

 In 2021, After SEC granted permission to a closely related Exchange Traded Fund from Proshares, A significant feat for Valkyrie was the release of BTC Strategy ETF, which was an indirect awareness to Bitcoin, which got him insured (BTCUSD). In October 2021, dating when the article was released, shares and stocks in the market we’re experiencing downtime of about 39.5%

 SEC Might Extend Valkyrie’s Mining Approval

 The US still holds back from approving BTC ETF even though the Security Exchange commission had permitted the financial instruments related to BTC futures in 2021. It is observed that Valkyrie’s mining company has a close similarity with that of his competitor Vaneck in the Digital Mining of the Exchange Traded Fund, which he listed last year. The Security Exchange Commission has shared that they will either postpone the erring of their decision or give their verdict to Valkrie’s application on the 14th of February.

Also Read:  OpenSea Introduces A New Protocol That Gives Rarity Calculations For Non-Fungible Tokens

 A lot of Cryptocurrency ETFs are yet to be endorsed by the US SEC as the regulatory body is still having a hard time making its decision on asset mining due to the risk of high volatility.

 Meanwhile, other regulatory authorities like the Canadian SEC have given consent to the Exchange Traded Funds with head-on vulnerability to Cryptocurrency. At a meeting held at the house, one of the House of Rep has disclosed that the USA government is undoubtedly dragging its feet and have had other nations beat them to the acceptance of Cryptocurrency Exchange Traded Funds.

 Brazil and Dubai are two other countries that have also followed suit in accepting the ETFs as the Brazilian filing to the regulatory authorities was given a go-ahead sometime in the month of March last year whilst the UAE BTC Exchange Traded Funds was accepted and released by the Canadian organization notable for financial management in the month of April, 2021.

Also Read:  Crypto Exchange Bitstamp has Decided to List Cardano (ADA)

 Valkyrie will surely be super elated should The US regulatory body grant his application. This will set new frontiers for the serial crypto asset management company and the American crypto Community moving with the fast-paced Crypto ecosystem.

NFTMetaverseFinance is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Voices content) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.

Leave a Reply

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