Valkyrie Spot Bitcoin ETF Will Include 0.8% Management Fee When Launched

Key Points:

• Valkyrie, following BlackRock’s lead, partners with Jane Street and Cantor Fitzgerald as authorized participants for the Valkyrie spot Bitcoin ETF.
• It reveals a 0.8% management fee for its ETF, contingent on SEC approval in the new year, echoing fees proposed by other issuers.

Valkyrie, following the lead of BlackRock, has designated Jane Street and Cantor Fitzgerald as authorized participants for the Valkyrie spot Bitcoin ETF, as revealed in recent filings.

Read more: CoinShares Exclusive Option To Acquire Valkyrie Funds Targeted For Early 2024

Valkyrie Forges Key Partnerships and Fee Disclosures for Valkyrie spot Bitcoin ETF

StoneX Financial is appointed as the lead market maker for Valkyrie’s ETF. BlackRock, in a similar move, partnered with J.P. Morgan and Jane Street for its Bitcoin acquisition, as the asset manager is legally barred from directly purchasing the cryptocurrency.

Notably, Valkyrie’s filing includes a management fee of 0.80% for the Valkyrie spot Bitcoin ETF, contingent on SEC approval early in the upcoming year. This fee mirrors those proposed by Ark and 21Shares for their respective ETFs. In a parallel development, global investment managers VanEck, Bitwise, and Hashdex have launched advertising campaigns for their Bitcoin ETFs, aiming for SEC approval.

The SEC’s decision to allow cash redemptions for ETFs has garnered support from major institutional players such as BlackRock, ARK Invest, 21Shares, Fidelity, Invesco, and Grayscale. The delay in SEC approval for crypto-related futures ETFs has sparked renewed interest, fueled by Grayscale’s legal victory compelling the regulator to reevaluate its proposal.

The potential launch of a spot-Bitcoin ETF is poised to be a historic milestone in mainstream financial products embracing cryptocurrency. Such an ETF could offer investors a regulated and more accessible avenue for Bitcoin investments, representing a significant step in the integration of digital assets into traditional financial markets.