CoinShares Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ: BTF)

에 대한 최신 뉴스 CoinShares Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ:BTF)

CoinShares Valkyrie Bitcoin and Ether Strategy ETF

NYSE

Boulder Total Return Fund, Inc.

The Fund is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing all or substantially all of its assets in exchange-traded futures contracts on bitcoin and ether collectively Bitcoin and Ether Futures Contracts and Collateral Investments. The Funds investment in Bitcoin and Ether Futures Contracts will be approximately equally weighted as of the rebalance date and will be rebalanced on a monthly basis, provided that during rebalancing periods or while taking temporary defensive positions, the Fund may be over- or under-weight with respect to one or another type of Bitcoin and Ether Futures Contract.

First American Treasury Obligations Fund

Valkyrie Bitcoin and Ether Strategy ETF

Close,Up,Of,A,Shiny,Bitcoin,Btc,Cryptocurrency,Coin,On

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Sector ETFs

ETFs

BITX

IBIT

YBTC

미국 거래소에 점점 더 많은 암호화폐 ETF가 상장되면서 투자자들은 이제 선택의 역설에 직면하게 되었다. 현물 및 선물 기반 펀드부터 레버리지 및 수익 지향 전략까지, 새로운 ETF 세계는 복잡할 뿐만 아니라 구조적으로도 복잡하다.그리고 이러한 구조는 수익률뿐만 아니라 변동성, 수수료, 세금에도 영향을 미친다. 오늘날과 같이 혼잡한 ETF 환경에서는 자신이 보유한 상품이 무엇이고 어떻게 운용되는지 아는 것이 진입 타이밍만큼이나 중요해졌다.

각기 다른 비트코인 ETF 구조, 위험·수익·세금에 대한 영향도 제각각

CoinShares Valkyrie Bitcoin Futures Leveraged Strategy ETF

With more and more crypto <a href="https://www.benzinga.com/etfs">ETFs listed on U.S. exchanges</a>, investors are now faced with a paradox of choice. From spot and futures-based funds to leveraged and income-oriented strategies, the new ETF universe is not only crowded, its structurally complicated.
And those structures matter—not just for returns, but for volatility, fees, and taxes. In today's crowded ETF landscape, knowing what you own and how it works is as critical as timing your entry.
Beyond The Ticker: Why Structure Matters
All Bitcoin <a href="https://www.benzinga.com/crypto">ETFs provide exposure to crypto</a> without the hassles of exchanges and wallets. But stop there. That&#8217;s where the similarities end. Each type of Bitcoin ETF is constructed differently, directly impacting how it will perform in your portfolio.
Let&#8217;s examine how these differences work out.
Spot ETFs: The Simplest Option
Spot Bitcoin ETFs like iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) provide direct Bitcoin exposure in a regulated format. Their appeal lies in simplicity: low turnover, tight price tracking, and minimal capital gains distributions—making them cost-efficient and ideal for long-term, buy-and-hold investors.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45592811/bitcoin-extends-rally-from-may-lows-can-it-break-120000-next">Bitcoin Extends Rally From May Lows — Can It Break $120,000 Next?</a>
Futures-Based ETFs: Exposure To Trading, Not The Asset
Futures-based Bitcoin ETFs like CoinShares Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NASDAQ">BTF</a>) use derivatives, not actual Bitcoin, which can cause returns to diverge from spot prices—especially over time. In contango markets, rolling contracts reduce returns. These ETFs suit short-term directional bets, not passive holding. Investors must watch roll costs, expirations, and fund strategy closely.
Leveraged ETFs: Volatility With An Exclamation Point
Leveraged Bitcoin ETFs, such as Volatility Shares 2x Bitcoin Strategy ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITX#BATS">BITX</a>), aim to double or triple Bitcoin's daily moves using futures, swaps, and frequent rebalancing. While they offer high short-term upside, compounding can erode returns over time—especially in volatile markets. These funds demand active management and aren&#8217;t suited for long-term holding.
Covered Call ETFs: Building Income, Limiting Upside
A newer category is income-focused Bitcoin ETFs, like Roundhill Bitcoin Covered Call Strategy ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/YBTC#BATS">YBTC</a>), which generate yield by selling options on crypto holdings. These strategies offer cash flow and perform best in sideways or mildly bullish markets, but they cap upside potential and often come with less favorable tax treatment.
Selecting By Use Case
Each Bitcoin ETF structure serves a distinct purpose:
<ul class="wp-block-list">
<li>Spot ETFs suit long-term holders wanting direct exposure with low complexity.</li>
<li>Futures-based ETFs cater to tactical traders chasing momentum—risk-aware and hands-on.</li>
<li>Leveraged ETFs are for aggressive, short-term bets—high risk, high maintenance.</li>
<li>Covered call ETFs offer income and dampened volatility, but cap upside potential.</li>
</ul>
What they all have in common is that they require transparency: the design determines how the ETF will perform, not only in terms of price, but in terms of suitability, risk, and yes, taxes.
One Fund, Many Outcomes
Two investors can both hold a "Bitcoin ETF" yet experience vastly different outcomes. One might enjoy low-cost, tax-efficient growth; the other could face weak returns or unexpected taxes.
The takeaway: with a growing array of crypto ETFs, due diligence is essential. Knowing the fund's name or fees isn't enough—you need to understand exactly what it holds and how it works.
Also Read: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/05/45593231/trump-sparks-uranium-frenzy-nuclear-etfs-see-explosive-gains">Trump Sparks Uranium Frenzy: Nuclear ETFs See Explosive Gains</a></li>
</ul>
Photo: egaranugrah On Shutterstock.com

Not All Bitcoin ETFs Are Created Equal: Here's How Structure Shapes Risk, Returns, And Taxes

Addentax Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXG#NASDAQ">ATXG</a>), a China-based diversified business group, stock skyrocketed on Thursday after it announced plans to <a href="https://www.benzinga.com/pressreleases/25/05/n45436963/addentax-group-corp-announces-800-million-plan-to-acquire-bitcoin-btc-and-official-trump-trump">acquire up to $800 million in crypto</a> via a share-based deal. The stock gave up its gains later.
The company announced plans to acquire up to 8,000 Bitcoins and other major cryptocurrencies, worth around $800 million, through a potential share-based transaction, signaling a major strategic pivot into the digital asset space.
The company is negotiating with several influential cryptocurrency holders to purchase up to 8,000 Bitcoins and assets such as the Official Trump coin. Based on current market prices, the estimated value of the proposed acquisition stands at approximately $800 million. While the discussions are advancing, no definitive agreement has been finalized.
ATXG views the potential transaction as a key component of its long-term strategy to expand its presence in the digital asset space. By issuing common stock in exchange for crypto assets, the company aims to strengthen its balance sheet while bringing experienced crypto investors into its shareholder network.
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/25/05/45428416/cathie-wood-tesla-palantir-coinbase-shopify-are-tip-of-the-spear-as-innovation-leaves-indexes-sc">Cathie Wood Says Palantir, Tesla, Coinbase And This Amazon Rival Are &#8216;Tip Of The Spear&#8217; As Innovation Disrupts Old World In Equity Benchmarks</a>
The targeted holders, who are believed to collectively control roughly 8,000 Bitcoins, bring substantial expertise and connections within the cryptocurrency industry. ATXG intends to leverage these relationships to deepen its market reach and accelerate growth in the blockchain sector.
CEO Hong Zhida said the move is part of a broader strategy to position Addentax within the evolving digital economy. "This initiative supports the Company's broader blockchain strategy by facilitating potential acquisitions of digital assets such as Bitcoin and introducing strategic investors with experience in the crypto ecosystem," he said. He added that established digital currencies could serve as stable long-term holdings due to their liquidity and increasing institutional interest.
Related ETFs: Bitwise Crypto Industry Innovators ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITQ#NYSE">BITQ</a>), Valkyrie Bitcoin Strategy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NASDAQ">BTF</a>)
Price Action: ATXG shares are trading higher by 75.32% at $1.26 at the last check on Thursday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45427302/anthony-scaramucci-forecasts-bitcoin-will-be-deemed-asset-class-akin-to-gold-when-it-reaches-500000">Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold</a></li>
</ul>
Photo Courtesy: alfernec via Shutterstock

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Addentax Takes $800 Million Bet On Bitcoin And Crypto

With worries of a worldwide economic slowdown growing in the aftermath of sweeping U.S. tariffs, cryptocurrency ETFs <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44668202/bitcoin-ethereum-xrp-drowning-in-tariff-tsunami-fall-to-50000-possible-expert-warns">are feeling the brunt</a>. 
What Happened: Monday saw an intense sell-off in major crypto ETFs, following a broader drop in digital assets and risk-on markets provoked by President Donald Trump&#8216;s &#8220;Liberation Day&#8221; tariffs.
The aftermath came quickly: Bitcoin dropped below $75,000, and is currently just over $78,000. Ethereum recorded double-digit declines. More than $800 million was liquidated in 24 hours, per QCP Capital, as investors hurried to cover themselves as volatility spiked—BTC&#8217;s implied volatility rose above 85v, and Ethereum jumped to 130v.
Among the largest losers since Trump&#8217;s so-called &#8220;Liberation Day&#8221; were three of the most well-known <a href="https://www.benzinga.com/etfs">crypto-linked ETFs</a>:
<ul>
<li>iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) declined by 10.4% since April 2. IBIT, a spot Bitcoin ETF, directly mirrors the underlying commodity&#8217;s price action. Its drawdown represented wide-based selling pressure from both institutional and individual investors. Earlier this year to widespread publicity, this ETF first started, with subsequent steady inflows. Now that momentum is in reverse because of macro headwinds.</li>
</ul>
<ul>
<li>iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) declined the most, losing 19.6%. Ethereum&#8217;s increased susceptibility to hype—particularly surrounding AI, DeFi, and Layer-2 narratives—exposed ETHA the most as speculators withdrew from high-beta players. ETHA also has narrower volumes than its Bitcoin equivalent, which increases risk of loss on the downside in panics.</li>
</ul>
<ul>
<li>CoinShares Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NASDAQ">BTF</a>) declined 14.5% during the same period. This actively managed futures exchange-traded fund that wraps up exposure to both Bitcoin and Ethereum derivatives got in the middle of both declining assets. With futures contracts already factoring in increased volatility, BTF was a victim of waterfall sell orders and de-risking.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/25/04/44670948/bitcoin-but-make-it-bounded-first-trust-launches-risk-buffered-crypto-etfs">New ETFs Offer Bitcoin Exposure With Built-In Safety Nets</a>
Why It Matters: Despite Trump&#8217;s renewed <a href="https://www.benzinga.com/topic/tariffs">pressure on world tariffs</a>—steps that analysts believe could strangle supply chains and cloud the economic horizon—the case for crypto ETFs remains intact. 
Regulatory clarity, growing institutional interest, and continued infrastructure development could pave the way for broader adoption. 
Andreas Brekken of SideShift.ai remains optimistic: "I'm still very bullish on BTC,&#8221; she said, noting that diplomatic breakthroughs could quickly reset the macro narrative.
Specifically, single-spot Bitcoin ETFs such as IBIT will stand to gain as safe-haven stories involving Bitcoin resurface—particularly when fiat confidence suffers or geopolitical turmoil intensifies.
While crypto ETFs can be under strain in the short to medium term, they also develop rapidly. As the sector weathers macro storms and meme-based manias dissipate, investors can increasingly consider ETFs not to be speculative bets but vital tools in the modern financial landscape.
As concerns about a trade-war-driven slowdown increase, crypto is following equities lower. Investors are dumping speculative positions first.
Unfazed is long-term ownership. Glassnode data indicate that more than 50,000 BTC are today being held close to the $74,000 level, of which most have been inactive since March—presumably serving as a psychological base.
What&#8217;s Next: While this current lull has shaken investor confidence, market analysts <a href="https://www.forbes.com/sites/digital-assets/2025/04/07/crash-fear-as-sudden-13-trillion-crypto-price-meltdown-hits-bitcoin-ethereum-xrp-solana-and-dogecoin/">tell </a>us that crypto ETFs will continue to generate renewed interest after stabilizing volatility.
Short-term forecasts are volatile. If the macro pressures keep going, and with the fresh set of tariffs announced for April 9 in sight, ETFs such as IBIT and ETHA won&#8217;t be able to regain their position. Traders might rather want to hang on to their liquidity than hold onto long-term positions.
In the medium term, additional weakness in crypto spot markets would bear down on ETFs. As B2BinPay analysts noted, the present chart patterns are similar to early 2022. That was a time that led to an 80% drawdown in Bitcoin. 
Futures-based ETFs such as BTF could experience further volatility because of contango and roll costs.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/real-estate/reit/25/04/44683691/lpre-etf-looks-past-reits-to-capture-greater-real-estate-economy">LPRE ETF Looks Past REITs To Capture &#8216;Greater&#8217; Real Estate Economy</a></li>
</ul>
Image: Shutterstock

ETHA

Trump Tariffs Spark $800M Crypto ETF Rout: Can The Macro Narrative Shift?

Japan&#8217;s SBI Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBHGF#OTC">SBHGF</a>) has teamed up with U.S. investment firm Franklin Resources Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) subsidiary Franklin Templeton to establish a digital asset management company. This venture aims to prepare for the potential approval of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and cryptocurrency exchange-traded funds in Japan.
What Happened: The new company, in which SBI will hold a 51% stake and Franklin Templeton the remaining 49%, is set to launch as early as this year. With approximately $1.6 trillion in assets under management, Franklin Templeton is the world&#8217;s seventh-largest asset manager, <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/Franklin-Templeton-and-SBI-team-up-to-bring-bitcoin-ETFs-to-Japan">reported</a> Nikkei on Friday.
While Franklin Templeton has traditionally focused on asset classes such as stocks and bonds, it has recently expanded into digital assets. 
The firm was among the first to venture into spot Bitcoin ETFs after they were approved by the U.S. Securities and Exchange Commission in January. The cumulative inflows into these ETFs have surpassed $16 billion in just over six months.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923307/senator-cynthia-lummis-slams-biden-administrations-dangerous-scheme-to-impose-30-tax-on-bi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Senator Cynthia Lummis Slams Biden Administration&#8217;s &#8216;Dangerous Scheme&#8217; To Impose 30% Tax On Bitcoin Mining, Call It &#8216;Blatant Attack&#8217; On American Excellence</a>
Japan is yet to approve Bitcoin ETFs, but the new company is poised to launch crypto ETF products as soon as the Financial Services Agency gives the green light. The joint venture is also expected to offer digital asset securities, an area where Franklin Templeton has already made significant headway.
Why It Matters: The collaboration between SBI Holdings and Franklin Templeton comes at a time when the cryptocurrency market is experiencing significant developments globally. 
In January, the SEC approved a Bitcoin ETF, marking a pivotal moment in the history of cryptocurrencies. This decision has been seen as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36792534/exclusive-secs-green-light-to-bitcoin-etf-is-2024-a-new-era-for-cryptocurrencies">major step towards mainstream acceptance</a> and could potentially unlock a new wave of institutional investment in the crypto sector.
In June, Australia saw the listing of its first-ever Bitcoin spot ETF on <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39404023/first-ever-bitcoin-spot-etf-start-trading-on-australias-main-stock-market-investors-get-ex">its main stock market</a>, further boosting the cryptocurrency sector. The VanEck Bitcoin ETF, with a seed investment of nearly $657,000, made its debut on the Australian Securities Exchange.
Additionally, in July, Hong Kong launched Asia&#8217;s first <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39883795/hong-kong-launches-asias-first-bitcoin-futures-inverse-product">Bitcoin futures inverse product</a>, marking a new milestone in the evolution of crypto-based financial instruments in the region. 
With the approval of Bitcoin ETFs, investors can now include this digital asset in their portfolios through traditional brokerage accounts, similar to how they invest in stocks or bonds. For <a href="https://benzinga.com/money/best-spot-bitcoin-etfs">those looking to diversify</a>, options include Fidelity Wise Origin Bitcoin Fund Common Shares of Beneficial Interest (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), ProShares Bitcoin Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITO#NYSE">BITO</a>), Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NASDAQ">BTF</a>), VanEck Bitcoin Trust Common Shares of Beneficial Interest (BATS:<a class="ticker" href="https://www.benzinga.com/stock/HODL#BATS">HODL</a>), ARK 21Shares Bitcoin ETF Common Shares of Beneficial Interests (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), Franklin Templeton Digital Holdings Trust Shares of Franklin Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/EZBC#BATS">EZBC</a>), and iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).
Price Action: Bitcoin traded at $67,027.60 today, up 1.87%. Year to date, Bitcoin has increased by $22,855.60, or 51.74%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

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Franklin Bitcoin ETF Franklin Bitcoin ETF

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Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

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Bitcoin ETFs In Japan: Franklin Templeton Partners With SBI Holdings To Launch Digital Asset Management Company

On Thursday, the SEC approved applications to list eight U.S. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs, marking a pivotal moment in <a href="https://www.benzinga.com/crypto">the cryptocurrency markets</a>.
However, the issuers' registration statements are still under review, and the exact timeline for trading remains uncertain.
According to JPMorgan analyst Kenneth B. Worthington, these approvals come amid a notable shift in regulatory sentiment, with the SEC reengaging with stakeholders after months of stalled conversations.
Worthington noted that Galaxy analysts anticipate that trading might begin by July or August 2024. JPMorgan expects trading of the spot ETH ETF to begin &#8220;well-ahead of November,&#8221; and will become &#8220;an increasingly political issue ahead of the 2024 U.S. presidential election.&#8221;
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39002468/ethereum-set-for-60-rally-following-etf-approval-says-expert-the-market-is-expecting-firew">Ethereum Set For 60% Rally Following ETF Approval, Says Expert: &#8216;The Market Is Expecting Fireworks&#8217;</a>
<h2 class="wp-block-heading">&#8216;Debate Around Staking Seems To Persist&#8216;</h2>
Worthington also highlighted a significant unresolved issue: whether staking ETH on behalf of ETF shareholders constitutes an investment contract under the Howey test. 
Current applications have been amended to exclude references to staking rewards, asserting that such rewards will not be passed to investors. This change is believed to have influenced the recent regulatory approval. However, &#8220;the debate around staking seems to persist as we now understand the focus is on whether these issuers will/can retain such staking rewards for themselves,&#8221; said Worthington.
<h2 class="wp-block-heading">Keep An Eye On Crypto ETFs</h2>
Ethereum-tracking funds such as ProShares Ether Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EETH#NYSE">EETH</a>), the Valkyrie Bitcoin and Ether Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NYSE">BTF</a>), the Bitwise Ethereum Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AETH#NYSE">AETH</a>), the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTOP#NYSE">BTOP</a>), the ProShares Bitcoin &amp; Ether Market Cap Weight Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BETH#NYSE">BETH</a>), and the ProShares Bitcoin &amp; Ether Equal Weight Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BETE#NYSE">BETE</a>), could see sunnier days ahead.
Popular Bitcoin ETFs such as the Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>), the iShares Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NYSE">IBIT</a>) and the Fidelity Wise Origin Bitcoin Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#NYSE">FBTC</a>) may also see increased attention in the coming days.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38995513/sec-approves-spot-ethereum-etfs-opening-door-for-mainstream-investors">SEC Approves Spot Ethereum ETFs, Opening Door For Mainstream Investors</a>
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Ethereum ETFs Will Trade 'Well Ahead Of November,' Says JPMorgan: 'Debate Around Staking Seems To Persist'

Upon completion, the acquisition is expected to bolster CoinShares&#39; existing AUM, currently at $4.5 billion by approximately $110 million, being the current level of AUM within Valkyrie&#39;s existing ETF products: The Valkyrie Bitcoin Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRRR#NASDAQ">BRRR</a>), The Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NASDAQ">BTF</a>) and The Valkyrie Bitcoin Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGMI#NASDAQ">WGMI</a>).

BRRR

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Coinshares Confirms Exercise Of Strategic Option To Acquire Valkyrie Funds

As&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36477205/spot-bitcoin-etf-debate-heats-up-we-have-heard-nothing-to-indicate-anything-but-approval">Spot Bitcoin ETFs</a>&nbsp;loom, the market is watching the potential impact on existing&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) futures markets.
What Happened: ProShares Global Investment Strategist, Simeon Hyman&nbsp;noted in his Wednesday&nbsp;<a href="https://twitter.com/BloombergTV/status/1742632238133506541">interview </a>with Bloomberg TV&rsquo;s Katie Greifeld that Bitcoin futures ETF products were the fastest to launch with&nbsp;$2 billion assets under management. In the past year, they&nbsp;attracted inflows of $600 million to rank in the top 5% of all ETFs in valuation.
According to Hyman, crypto&nbsp;futures markets are&nbsp;more mature, liquid and regulated compared to their spot equivalents. Hyman called&nbsp;spot markets &quot;weird&quot; and influenced by factors like&nbsp;FTX&nbsp;Binance and &quot;stuff.&quot;
Futures markets are bolstered by&nbsp;high trading volumes and tight spreads, while the same does not always apply to spot markets, he added.
It remains unclear whether futures markets&nbsp;will&nbsp;become obsolete once institutional and retail investors can access the cryptocurrency itself through spot ETFs.
Some of the Futures ETF Bitcoin are ProShares Bitcoin Strategy ETF (NYSEARCA: BITO), VanEck Bitcoin Strategy ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/xbtf#BATS">XBTF</a>), and&nbsp;Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btf#NASDAQ">BTF</a>).
Expert Opinions: Nate Geraci, president of The ETF Store,&nbsp;<a href="https://twitter.com/NateGeraci/status/1742668169699836205?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1742668169699836205%7Ctwgr%5E5cc0b06a5e4e4533a66ff6acdd330c2d4d9848ed%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Furl%3Dhttps%3A%2F%2Ftwitter.com%2FNateGeraci%2Fstatus%2F1742668169699836205">pointed out</a>&nbsp;that Hyman was not particularly enthusiastic in his support for the upcoming spot funds. &ldquo;No surprise, but ProShares (who&rsquo;s behind by far the largest bitcoin futures ETF) isn&rsquo;t exactly offering a ringing endorsement of spot bitcoin ETFs&hellip;Will be interesting to see what happens to BITO if &amp; when spot bitcoin ETFs launch,&rdquo; Geraci tweeted.
Whale Wire, a source for crypto news, <a href="https://twitter.com/WhaleWire/status/1742329599143416031?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1742329599143416031%7Ctwgr%5E0f0e95e07f08b056ddb4283443cf287a4d6cc1bc%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Furl%3Dhttps%3A%2F%2Ftwitter.com%2FWhaleWire%2Fstatus%2F1742329599143416031">warned</a>&nbsp;that excessive retail hype from approval rumors risks inflating prices to unsustainable levels, as occurred when CME launched Bitcoin futures in late 2017.
<blockquote class="twitter-tweet">The mainstream media is essentially urging retail to go all-in on Bitcoin, due to rumors of a Bitcoin ETF.
Let&rsquo;s say hypothetically that a ETF was approved later today. It would be catastrophic for BTC.
Just look what happened when corrupt Wall Street launched Futures in&hellip; <a href="https://t.co/ocrnnfW0cv">pic.twitter.com/ocrnnfW0cv</a>
&mdash; WhaleWire (@WhaleWire) <a href="https://twitter.com/WhaleWire/status/1742329599143416031?ref_src=twsrc%5Etfw">January 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><script id="leather-provider" src="chrome-extension://ldinpeekobnhjjdofggfgjlcehhmanlj/inpage.js"></script><script id="leather-provider" src="chrome-extension://ldinpeekobnhjjdofggfgjlcehhmanlj/inpage.js"></script>Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36490924/bitcoin-boom-or-bust-investor-surge-meets-analyst-caution-over-etf-risks">Bitcoin Boom Or Bust? Investor Surge Meets Analyst Caution Over ETF Risks</a>
Photo: Shutterstock

XBTF

Bitcoin ETF Dilemma: Spot Markets, Futures Face Off In Crypto Arena

Crypto index fund manager Bitwise Asset Management on Friday&nbsp;announced its intention to launch two new Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34757225/grayscale-files-for-ether-futures-etf-following-court-victory-against-sec">futures ETFs.</a>
These ETFs, named AETH and BTOP, are set to be listed and commence trading on Oct.&nbsp;2.
This move by Bitwise was&nbsp;seen as a strategic step in expanding its offerings in the rapidly evolving crypto market.
In light of these developments, industry experts and enthusiasts were eagerly awaiting the upcoming Benzinga&nbsp;<a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">Future of Digital Assets</a> conference on Nov. 14. The event promises to shed light on the future trajectory of digital assets and the potential implications of such ETF launches.
Further <a href="https://www.businesswire.com/news/home/20230928853665/en/Bitwise-Files-Form-8-As-for-Two-New-Ethereum-Futures-ETFs-AETH-and-BTOP-Funds-Intend-To-Begin-Trading-on-Monday-October-2/?feedref=JjAwJuNHiystnCoBq_hl-W8j9Oi60kFTomUxRDB8jhBsNpnJw7dvSfTyni2BOVIOrCOi9QzgjCezTS3Nw_X6kJUrpSBm-Hav1w-UkdSlG3nDlC87j5HoE75BMeA8LaVacVjEfZIyqgxRRsuxHCTK2w%3D%3D&amp;utm_source=dlvr.it&amp;utm_medium=twitter">details</a> revealed the Bitwise Ethereum Strategy ETF, with the ticker AETH, aims to invest predominantly in the regulated Chicago Mercantile Exchange (CME) Ether futures, with a primary focus on front-month contracts.
On the other hand, the Bitwise Bitcoin and Ether Equal Weight Strategy ETF, BTOP, is designed to provide investors with equal exposure to regulated CME Bitcoin and Ether futures.
Both these funds have entrusted the Bank of New York Mellon Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) as their custodian and come with an expense ratio of 0.85%.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34981926/bitcoin-is-choppy-but-what-about-rollbit-what-to-expect-in-the-next-bull-market">Bitcoin Is &#39;Choppy&#39; But What About Rollbit? Expect This During The Next Bull Market</a>
Meanwhile, Valkyrie, another prominent asset manager, recently received approval to incorporate Ethereum futures into its existing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btf#NASDAQ">BTF</a>).
Valkyrie has outlined plans to allocate an initial 10% of its fund to Ether, with intentions to raise this allocation to 50% by Monday.
Meanwhile, VanEck, yet another contender in the asset management arena, has teased its upcoming Ether futures ETF through a promotional video, hinting at its imminent launch.
ETFs present a cost-effective and streamlined avenue for investors to speculate on the performance of a range of assets, including stocks, commodities and cryptocurrencies. Their high liquidity further enhances their appeal to a broad spectrum of investors.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34913849/is-the-bitcoin-market-overheated-overleveraged-why-these-analysts-are-cautioning-traders">Is the Bitcoin Market Overheated, Overleveraged? Why These Analysts Are Cautioning Traders</a>
Meet and engage with transformative&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Digital Asset and Crypto</a>&nbsp;business leaders and investors at Benzinga&#39;s exclusive event:&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Future of Digital Assets</a>. Tickets are flying:&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" rel="noopener noreferrer" target="_blank">Get yours</a>!&nbsp;
Photo: Shutterstock

Bitwise To Launch Two Ethereum Futures ETFs

Valkyrie has become the latest issuer to resubmit an application for a Bitcoin exchange-traded fund&nbsp;after th&nbsp;Securities and Exchange Commission deemed the initial documents inadequate.
What Happened:&nbsp;The firm, based in Nashville, Tennessee, <a href="https://listingcenter.nasdaq.com/assets/rulebook/NASDAQ/filings/SR-NASDAQ-2023-019.pdf">revealed </a>in its filing that Coinbase Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) would offer market surveillance for its proposed Bitcoin fund.
The SEC had previously expressed concerns over the lack of clarity in earlier filings.
The recently submitted documents reveal that Nasdaq, where Valkyrie plans to list if approved, had &quot;executed a term sheet with Coinbase&quot; on June 30 to &quot;enter into a surveillance-sharing agreement.&quot;&nbsp;
Valkyrie was among the first issuers to introduce a Bitcoin-futures ETF in 2021.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/07/33119033/hotbits-rug-pull-disaster-devastates-richquack-baby-dogecoin-dogelon-mars">Hotbit&#39;s Rug Pull Disaster Devastates RichQuack, Baby DogeCoin, Dogelon Mars</a>
This fund, known as the Valkyrie Bitcoin Strategy ETF, trades under the ticker BTF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btf#NASDAQ">BTF</a>).
Why It&#39;s Important:&nbsp;Following BlackRock&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) filing for a similar ETF in mid-June, numerous other firms have filed or refiled for spot products, buoyed by market optimism that the SEC might change its <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/33080539/blackrocks-bitcoin-etf-dream-dashed-by-sec-crypto-market-on-edge">long-held stance against such a fund.</a>
Indicating a possible shift in its position, the SEC did permit ETFs linked to Bitcoin futures in 2021 and recently approved a leveraged Bitcoin futures fund.
BlackRock&#39;s initial filing not only triggered a rush among other issuers to file similar applications but also ignited a <a href="https://www.benzinga.com/markets/cryptocurrency/23/07/33116348/bitcoin-poised-for-new-bull-run-market-analysts-detect-encouraging-indicators">broader rally for cryptocurrencies.</a>
Major cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) have rallied 19%, 6%, and 2% over the past month, according to data from CoinGecko.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/07/33118300/hong-kong-is-ready-to-challenge-usdt-and-usdc-with-its-own-stablecoin-experts-say">Hong Kong Is Ready To Challenge USDT And USDC With Its Own Stablecoin, Experts Say</a>
Join Benzinga&#39;s Future of Crypto in NYC on Nov. 14, 2023 to stay updated on trends like AI, regulations, SEC actions &amp; institutional adoption in the crypto space.&nbsp;<a href="https://www.benzinga.com/events/crypto/" rel="noopener noreferrer" target="_blank">Secure early bird discounted tickets now</a>!
Photo via Shutterstock.&nbsp;

$DOGE

Valkyrie Refiles Bitcoin ETF Application Amid Crypto Optimism

One of the most popular phrases in the world of investing in stocks and crypto could become&nbsp;a stock ticker for a new Bitcoin ETF. Here are the details.
What Happened: Financial services company Valkyrie Funds has filed for a new Bitcoin Futures ETF that would use &ldquo;BTFD&rdquo; as the ticker. The filing comes years after Valkyrie planned to use the BTFD ticker before <a href="https://www.benzinga.com/markets/cryptocurrency/21/10/23442873/is-btfd-the-ultimate-bitcoin-etf-ticker-valkyrie-is-about-to-find-out">changing to a different ticker.</a>
A new leveraged Bitcoin Futures ETF from Valkyrie will use the proposed ticker BTFD, as reported by <a href="https://decrypt.co/140295/valkyrie-files-btfd-ticker-leveraged-bitcoin-futures-etf-application">Decrypt</a>.
If approved, the fund would trade on the Nasdaq. The leveraged Bitcoin ETF would offer a chance for investors to increase their exposure to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). Leveraged ETFs<a href="https://www.benzinga.com/etfs/specialty-etfs/22/03/26153332/how-do-leveraged-etfs-work"> use derivatives, debt and other methods</a>&nbsp;to outperform an underlying index.
BTFD is an acronym familiar to investors that stands for &ldquo;buy the f***ing dip.&rdquo; The phrase has been a rallying cry for investors, particularly on social media and videos, where they are encouraged to buy shares of stocks or cryptocurrencies after their prices&nbsp;fall.
Valkyrie originally planned to use the ticker BTFD for its Bitcoin Strategy before changing to a different ticker. By having the BTFD ticker on a Bitcoin-themed ETF, Valkyrie could stand out in the potentially crowded field.
&ldquo;OMG, it looks like Valkyrie changed their ticker to $BTFD, they must have listened to Twitter bc that was like all over my replies every time we talked about $BTF. Talk about an instant classic,&rdquo; Bloomberg ETF Senior Analyst Eric Balchunas tweeted in 2021.
Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/how-to-buy-bitcoin">How To Buy Bitcoin&nbsp;</a>
Why It&rsquo;s Important: Valkyrie Funds is one of the several ETF companies with existing ETF products that center around Bitcoin.
The company has the Valkyrie Bitcoin Strategy ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btf#NASDAQ">BTF</a>) and Valkyrie Bitcoin Miners ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wgmi#NASDAQ">WGMI</a>), which have around $27 million and $9 million in assets, respectively. The ticker WGMI is also a popular crypto acronym, standing for &ldquo;we are gonna make it&rdquo; or &ldquo;we are going to make it,&rdquo; suggesting that the investment will pay off over time.
The existing Bitcoin-themed funds from Valkyrie do not have direct exposure to Bitcoin, instead offering Bitcoin futures that are traded on the Chicago Mercantile Exchange.
Other popular Bitcoin-themed ETFs include the ProShares Bitcoin ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bito#NYSE">BITO</a>), Bitwise Crypto Industry Innovators (ARCA:BITQ) and VanEck Bitcoin Strategy (BATS: <a class="ticker" href="https://www.benzinga.com/stock/xbtf#BATS">XBTF</a>), which have assets of $968 million, $66 million and $40 million respectively according to <a href="https://etfdb.com/themes/bitcoin-etfs/">ETFDB</a>.
There are currently no&nbsp;Bitcoin spot ETFs on the market with direct exposure to Bitcoin, as the SEC has blocked applications from ETF companies.
Grayscale, which offers the Grayscale Bitcoin Trust (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gbtc#OTC">GBTC</a>), is seeking to convert its popular trust into a spot Bitcoin ETF.
BTC Price Action: Bitcoin is trading at $27,038.01 at the time of writing, versus a 52-week trading range of $15,599.05 to $32,249.86.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/05/32380160/if-you-bought-your-mom-100-in-bitcoin-dogecoin-and-ethereum-last-mothers-day-heres-how-muc">If You Bought Your Mom $100 In Bitcoin, Dogecoin And Ethereum Last Mother&#39;s Day, Here&#39;s How Much She&#39;d Have Now&nbsp;</a>
Photo created using artificial intelligence with MidJourney.

BTFD

Buy The Dip? New Valkyrie ETF Could Have BTFD Ticker And Appeal To Bitcoin Investors

Price volatility and rapidly shifting emotions that can lead to quick gains or losses can make <a href="https://www.benzinga.com/markets/cryptocurrency/22/08/28354734/2-billion-in-crypto-stolen-from-cross-chain-bridges-this-year-chainalysis">cryptocurrencies </a>overwhelm participants of stock and other traditional markets.
However, given the increasing levels of crypto acceptance and the shift in public opinion on the significance of digital currencies in the future of Web3, more and more investors are eager to engage in this asset class.
ETFs provide access to cryptos with inconveniences 
A few <a href="https://www.benzinga.com/money/best-crypto-etfs">exchange-traded funds</a> (ETFs) that provide access to cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) without the inconveniences of holding or protecting crypto tokens through an online or hardware wallet have emerged, offering the best of both worlds.
The ProShares Bitcoin Strategy ETF (ARCA: BITO), which initially proposed the idea in October 2021, drew investments totaling approximately $1 billion in the concept&#39;s first few days of operation.
Investors have two options for purchasing BITO shares, which are actively traded on the NYSE Arca network: directly through the ProShares or through a brokerage.
<h3>BITO most actively managed BTC ETF</h3>
The most actively managed BTC ETF, BITO has more than $800 million in assets under management (AUM) and invests in BTC futures contracts, treasury securities, and cash.
The ProShares Short Bitcoin ETF (ARCA: BITI), the newest entry in the BTC ETF market, is another product offered by ProShares. It was introduced in June 2022.
As opposed to BITO, BITI uses a shorting strategy to trade in cash-settled futures markets in an effort to mirror the daily performance of BTC.
BITI, which has an AUM of $62 million, is becoming increasingly popular among investors who are more interested in making money from a decrease in the price of BTC over a certain time frame.
Investors may also choose to purchase shares in the Valkyrie Bitcoin Strategy ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btf#NASDAQ">BTF</a>), VanEck Bitcoin Strategy ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/xbtf#BATS">XBTF</a>), AdvisorShares Managed Bitcoin Strategy ETF (ARCA: CRYP), or Global X Blockchain &amp; Bitcoin Strategy ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bits#NASDAQ">BITS</a>).
BTF, which debuted shortly after BITO with an AUM of $22 million, wants to invest nearly all of its funds in BTC futures.
Similar to BITO in concept, BTF and BITO are trading at prices that are almost 70% below their listing prices because of the virtually same decrease in the price of BTC from its all-time high of $68,890 in November 2021.
XBTF is established as a C Corporation and is taxed independently in accordance with Internal Revenue Service regulations, which is slightly different from both BITO and BTF (IRS).
<h3>Reinvesting in ETF funds can help pay fewer taxes</h3>
Reinvesting long-term capital gains or dividends back into the fund might help certain investors pay less in taxes as a result of taxable distributions.
XBTF, which boasts a lower expenditure ratio and is comparable in size to BTF, has outperformed both BITO and BTF marginally.
In contrast to these BTC ETFs, BITS divides its holdings between indirect investments in blockchain businesses that are well-positioned to profit from rising blockchain usage and BTC futures contracts.
In order to provide its investors with long-term capital growth, the fund takes long positions in BTC futures.
BITS, which is smaller than the BTC ETFs previously mentioned and has an AUM of $8.4 million, owns more than 50% of its assets in the Global X Blockchain ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bkch#NASDAQ">BKCH</a>).
The CRYP ETF, which provides exposure to BTC through BTC futures ETFs, BTC futures contracts, short-term fixed-income instruments, and cash or cash equivalents, is last but certainly not least.
The smallest among the six BTC ETFs, CRYP has an AUM of $172,000 and has just 10,000 outstanding shares that are available for trading.
Apart from these six BTC ETFs that have been approved by the U.S. Securities and Exchange Commission (SEC), there are many more proposals pending for approvals which could add significantly to the options available in the BTC ETF space.
By choosing either of the above BTC ETFs, investors from across the globe can assume some exposure to BTC while benefitting from NYSE Arca&rsquo;s fully automated, transparent open and closing auctions in these ETFs.
<h3>SEC concerns prevent ETF funds from holding BTC</h3>
Due to the <a href="https://www.benzinga.com/22/06/27747199/sec-initiates-investigation-into-insider-trading-in-crypto-exchanges">SEC&#39;s worries</a> about BTC being traded on unsecure cryptocurrency exchanges, neither of these <a href="https://www.benzinga.com/money/best-crypto-etfs">BTC ETFs</a> really hold any BTC, but they do give investors exposure to the cryptocurrency&#39;s market swings and the opportunity to profit from long-term price growth.
Despite the fact that none of these BTC ETFs have produced positive capital gains since their launch, things might soon change if BTC resumes its upward move.

BITS

BKCH

Exposure To Crypto: Exploring Passive Investment Opportunities Using Bitcoin ETFs

<a href="https://twitter.com/BreakingCrypto5/status/1490710989523890179" target="_blank">https://twitter.com/BreakingCrypto5/status/1490710989523890179</a>

Nasdaq Has Approved Bitcoin Miners ETF By Valkyrie

Valkyrie &mdash; a crypto asset management platform &mdash; requested the U.S&nbsp;Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) including&nbsp;firms that originate some of their revenue from Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining.
What happened: CoinTelegraph <a href="https://cointelegraph.com/news/valkyrie-aims-for-etf-linked-to-bitcoin-mining-firms-on-nasdaq">reported</a> Valkyrie&rsquo;s proposal will allow indirect Bitcoin Miners ETF investment in the crypto asset with an 80% exposure to Bitcoin via firms that &ldquo;derive at least 50% of their revenue or profits&rdquo; by facilitating BTC mining or just mining the digital asset.
In October 2021, the platform initiated a Bitcoin Strategy ETF on Nasdaq with the ticker of BTF&nbsp;and a starting price of $25.52 per share.
&quot;This Bitcoin Strategy ETF is a major leap forward for this asset class,&quot; Valkyrie CEO Leah Wald <a href="https://cointelegraph.com/news/valkyrie-bitcoin-futures-linked-etf-launches-on-nasdaq-with-share-prices-dropping-3-in-first-hour">said</a>. &quot;It enables investors to participate in the digital asset markets through a regulated, transparent product that trades on a trusted, reliable exchange and can be bought and sold as easily as any other investment currently available.&quot;
See Also: <a href="https://www.benzinga.com/money/best-etfs/">Best Exchange-Traded Funds</a>
Canadian authorities have already approved Purpose Investments, Fidelity and Evolve Fund Group, although there are many ETF applications under review in the U.S. Registered accounts can either completely offset or lessen Canadian clients&#39; capital gains tax payments by holding such ETFs.
BTF Price Action: Shares for the Bitcoin Strategy ETF were up 0.14% at $14.40 Wednesday afternoon.

Valkyrie Aims For A Bitcoin Mining ETF

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Europe's Drug Stocks, <a href="http://ceoworld.biz/ceo/tag/rhhby">Roche</a> (RHHBY), a Switzerland-based pharmaceuticals and diagnostics company, is trading at a price of $41.25, a dramatic change of -1.23 with % change of -2.90%, <a href="http://ceoworld.biz/ceo/tag/nvs">Novartis AG</a> (NVS) is trading at a price of $60.44, a dramatic change of -0.95 with % change of -1.55%, and <a href="http://ceoworld.biz/ceo/tag/gsk">GlaxoSmithKline</a> (GSK) is trading at a price of $42.38, a dramatic change of -0.88 with % change of -2.03%. <a href="http://ceoworld.biz/ceo/tag/bayry">Bayer AG's</a> (BAYRY) -2.48% shares were off 3% and <a href="http://ceoworld.biz/ceo/tag/prxl">Parexel International </a>(PRXL) -4.84% dropped 6%.
The Italian Treasury said it would “intensify” reform efforts, but said there was no risk of political gridlock. Italy's public debt stood near 120% of gross domestic product at the end of last year. Spain's deficit was 9.2% of GDP in 2010. The government aims to cut the deficit to 6% of GDP in 2011.
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Johnson and Johnson (NYSE:JNJ), the world's second-biggest seller of health-care products, has agreed to buy Swiss medical device manufacturer Synthes Inc. (SYST) for $21,5 billion. Johnson and Johnson will acquire Synthes for 19 billion Swiss Francs, or $21.59 billion.
Johnson &amp; Johnson is offering 159 Swiss francs per share of the Swiss-American company, which manufactures bone implants and surgical tools. The bid is comprised of 55.65 francs in cash and 103.35 francs worth of Johnson &amp; Johnson common strock.
“Orthopedics is a large and growing $37 billion global market and represents an important growth driver for Johnson &amp; Johnson,” Bill Weldon, head of Johnson &amp; Johnson, said in the companies' statement.
“The combination presents a significant opportunity to jointly bring our products, services and educational offerings to the next level. Together, we will be a more attractive and exciting company for our employees and a more resourceful partner for our customers,” the Synthes President and CEO, Mr Michel Orsinger, said.
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Johnson and Johnson Agrees to Buy Swiss Synthes Inc. (SYST) for $21,5 billion

Billionaire Warren Buffett is the second richest American. As most investors know, he is the head of Berkshire Hathaway (BRK-A), the highest priced stock and one of the most successful companies during the last half-century. The company also has Class B shares (BRK-B), currently trading around 83.75, is another way to invest with Buffett. The Class B common share is equal to one-fifteen-hundredth (1/1,500) of the Class A shares. However, there are other ways to invest in Berkshire Hathaway.
The Boulder Total Return Fund (<a class="ticker" href="/stock/btf#">BTF</a>) has over 27% of its portfolio in Berkshire A shares plus another 12% in Berkshire B shares, so in excess of 39% of the investment assets in Buffett's company. Other stocks the closed end fund owns includes: Yum (<a class="ticker" href="/stock/yum#">YUM</a>) Wal-Mart (<a class="ticker" href="/stock/wmt#">WMT</a>) Johnson &amp; Johnson (<a class="ticker" href="/stock/jnj#">JNJ</a>)
Another alternative is by owning shares in the Sequoia Fund (SEQUX), a mutual fund with a large position in Berkshire Hathaway. Over 15% of their portfolio is invested in the stock. Some of the other stocks in their portfolio include: IDEXX Labs (<a class="ticker" href="/stock/idxx#">IDXX</a>) TJX (<a class="ticker" href="/stock/tjx#">TJX</a>) Martin Marietta (<a class="ticker" href="/stock/mlm#">MLM</a>) Fastenal (<a class="ticker" href="/stock/fast#">FAST</a>) Mohawk Industries (<a class="ticker" href="/stock/mhk#">MHK</a>) The minimum investment in Sequoia is $5,000.
A third way to invest is by investing in the Fairholme Fund (<a class="ticker" href="/stock/fairx#">FAIRX</a>) which has a little over 6% of their portfolio invested in Berkshire. Although the concentration is not as significant as Sequoia, it is the number three holding in the portfolio, as measured by percentage of assets. Fairholme's other major holdings include: Sears (<a class="ticker" href="/stock/shld#">SHLD</a>) Goldman Sachs (<a class="ticker" href="/stock/gs#">GS</a>) Citigroup (<a class="ticker" href="/stock/c#">C</a>) WellPoint (<a class="ticker" href="/stock/wlp#">WLP</a>) Minimum investment is $10,000.
Markel Corp. (<a class="ticker" href="/stock/mkl#">MKL</a>) is an insurance company that many consider to be a mini-Berkshire, especially since it has a substantial amount of Berkshire Hathaway stock. 
There are other funds that have around two percent of their portfolio in Berkshire, such as Legg Mason ClearBridge Appreciation A (SHAPX) but the percentage isn't enough to be a close play on Berkshire.
One other option is to create a portfolio that emulates Berkshire's holdings of publicly traded stocks, however, this wouldn't cover Berkshire's holdings of non-public stocks. In addition, it would involve purchasing many different stocks, so you would be better off just buying the Class B shares. But if you think that you can out-perform Buffett using his ideas, then here is a list of a few of their Berkshire's major stockholdings:
American Express Co. (<a class="ticker" href="/stock/axp#">AXP</a>) The Coca-Cola Company (<a class="ticker" href="/stock/ko#">KO</a>) ConocoPhillips (<a class="ticker" href="/stock/cop#">COP</a>) Johnson &amp; Johnson (<a class="ticker" href="/stock/jnj#">JNJ</a>) Procter &amp; Gamble Co. (<a class="ticker" href="/stock/pg#">PG</a>) 
For a free downloadable list of all of Warren Buffett's <a href="http://WallStreetNewsNetwork.com">Berkshire Hathaway stockholdings</a>, which can be changed, added to, and sorted by yield and forward PE, go to WallStreetNewsNetwork.com.
Disclosure: Author does not own any of the above.
By Stockerblog.com 
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Lots of Ways to Invest Like Warren Buffett

Boulder Closed-End Funds 
 
The Boulder Funds
As of March 19, 2010
  
NAV 
Market 
Premium/(Discount) 
Boulder Total Return Fund 
$17.71 
$14.64 
(17.3)%
Boulder Growth &amp; Income Fund 
$7.33 
$6.32 
(13.8)%
52 – Week Shareholder Total Returns: 
Boulder Total Return (BTF) ……………………………………………. 91.1% 
Boulder Growth and Income (BIF) …………………………………… 65.4% 
  
Top 20 Holdings – BTF as of Nov. 30, 20009
ISSUE 
Shares 
Market Value 
% of Assets 
 
1 
Berkshire Hathaway Inc., Class A 
690 
$ 69,414,000 
26.44%
2 
Yum! Brands Inc 
1,085,000 
$ 38,267,950 
14.58%
3 
Berkshire [...]

Buying Bershire Hathaway at a Discount using the Boulder Closed-End Funds

미국 거래소에 점점 더 많은 암호화폐 <a href="https://www.benzinga.com/etfs" target="_blank" rel="noopener">ETF가 상장</a>되면서 투자자들은 이제 선택의 역설에 직면하게 되었다. 현물 및 선물 기반 펀드부터 레버리지 및 수익 지향 전략까지, 새로운 ETF 세계는 복잡할 뿐만 아니라 구조적으로도 복잡하다.
그리고 이러한 구조는 수익률뿐만 아니라 변동성, 수수료, 세금에도 영향을 미친다. 오늘날과 같이 혼잡한 ETF 환경에서는 자신이 보유한 상품이 무엇이고 어떻게 운용되는지 아는 것이 진입 타이밍만큼이나 중요해졌다.
<h3>ETF 구조가 중요한 이유</h3>
모든 <a href="https://www.benzinga.com/crypto" target="_blank" rel="noopener">비트코인 ETF</a>는 거래소와 지갑의 번거로움 없이 암호화폐에 대한 노출을 제공한다. 하지만 각 유형의 비트코인 ETF는 다르게 구성되며, 이는 포트폴리오의 성과에 직접적인 영향을 미친다.
이러한 차이점이 어떻게 작동하는지 살펴보자.
현물 ETF: 가장 간단한 옵션
iShares Bitcoin Trust(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) 같은 현물 비트코인 ETF는 규제된 형식의 비트코인 직접 노출을 제공한다. 낮은 회전율, 엄격한 가격 추적, 최소한의 자본 이득 분배 등 단순성이 매력으로, 비용 효율적이고 장기 매수 및 보유 투자자에게 이상적이다.
선물 기반 ETF: 자산이 아닌 거래에 대한 노출
CoinShares Valkyrie Bitcoin and Ether Strategy ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NASDAQ">BTF</a>) 같은 선물 기반 비트코인 ETF는 실제 비트코인이 아닌 파생상품을 사용하기 때문에 특히 시간이 지남에 따라 수익률이 현물 가격과 차이가 날 수 있다. 콘탱고 시장에서는 롤링 계약이 수익률을 떨어뜨린다. 이러한 ETF는 패시브 보유가 아닌 단기 방향성 베팅에 적합하다. 투자자는 롤링 비용, 만기, 펀드 전략을 면밀히 살펴야 한다.
레버리지 ETF: 변동성 강조
Volatility Shares 2x Bitcoin Strategy ETF(BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITX#BATS">BITX</a>) 같은 레버리지 비트코인 ETF는 선물, 스왑, 잦은 리밸런싱을 통해 비트코인의 일일 움직임을 두 배 또는 세 배로 늘리는 것을 목표로 한다. 단기적으로 높은 상승 여력을 제공하지만, 특히 변동성이 큰 시장에서는 복리로 인해 시간이 지남에 따라 수익률이 하락할 수 있다. 이러한 펀드는 적극적인 관리가 필요하며 장기 보유에는 적합하지 않다.
커버드콜 ETF: 인컴 구축, 상승폭 제한
Roundhill Bitcoin Covered Call Strategy ETF(BATS:<a class="ticker" href="https://www.benzinga.com/stock/YBTC#BATS">YBTC</a>) 같은 인컴 중심의 비트코인 ETF는 암호화폐 보유에 대한 옵션을 매도하여 수익을 창출하는 새로운 카테고리다. 이러한 전략은 현금 흐름을 제공하고 횡보 또는 약세장에서 가장 좋은 성과를 내지만, 상승 잠재력이 제한되어 있고 세금 혜택이 덜한 경우가 많다.
<h3>사용 사례별 선택</h3>
각 비트코인 ETF 구조는 뚜렷한 목적을 가지고 있다.
<ul>
<li>현물 ETF: 복잡성이 낮고 직접 노출을 원하는 장기 보유자에게 적합하다.</li>
<li>선물 기반 ETF: 모멘텀 리스크를 인식하고 실전에 임하는 전술적 트레이더에게 적합하다.</li>
<li>레버리지 ETF: 공격적인 단기 베팅, 즉 고위험 고수익을 추구하는 트레이더를 위한 상품이다.</li>
<li>커버드콜 ETF: 인컴 수익과 변동성 완화를 제공하지만 상승 가능성이 제한된다.</li>
</ul>
이 모든 상품의 공통점은 가격뿐 아니라 적합성, 위험, 세금 측면에서 ETF의 성과가 어떻게 결정되는지 설계에 따라 투명성이 필요하다는 점이다.
<h3>하나의 펀드, 다양한 결과</h3>
두 명의 투자자가 &#8216;비트코인 ETF&#8217;를 보유하더라도 전혀 다른 결과를 경험할 수 있다. 한쪽은 저비용으로 절세 효과를 누릴 수 있지만, 다른 쪽은 낮은 수익률이나 예상치 못한 세금에 직면할 수 있다.
결론은 암호화폐 ETF의 종류가 다양해짐에 따라 실사가 필수적이라는 것이다. 펀드의 이름이나 수수료만 아는 것만으로는 충분하지 않으며, 펀드가 무엇을 담고 있고 어떻게 작동하는지 정확히 이해해야 한다.
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