, but it didn't invest directly in BTC. 80% of its net assets offer exposure through the securities of companies that derive at least 50% of their revenue or profits from BTC mining. Valkyrie invests the rest of the 20% in companies holding “a significant portion of their net assets” in Bitcoin.
The first Bitcoin ETF to be approved in the United States waslaunched in October of 2021, which tracked Bitcoin prices through futures contracts traded at the CME. The first ETF gained a lot of early market traction seeing $1 billion in trading volume on its first day. This made many believe that the success would eventually convince regulators in 2022 to approve the first spot market-based ETF, but prolonged crypto winter and crypto contagions turned the tide against the crypto ETFs.
It has been a Bullish week for Bitcoin and the crypto market.
Time to ape some $TINU TresorInu It's on $ETH and these guys build the first crypto marketplace!
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