In the field of managing digital assets, Valkyrie has a successful track record. Since its commencement on January 1st, 2021, the Bitcoin Trust has been running on a daily basis. The business stated:
"Our organization is particularly suited to take on this job as a certified investment advisor and dependable investment manager with comprehensive knowledge of Bitcoin and cryptocurrencies."
By the end of 2021, it launched publicly traded Bitcoin-related ETFs and has a proven track record of working with and valuing its partners and investors.
"The company further stated that Valkyrie Opportunistic Fund, LP was created in order to take advantage of the substantial discount in the spread between GBTC's NAV (net asset value) and price. The Valkyrie Opportunistic Fund, LP, which intends, among other things, to benefit from the significant discount in the difference between the NAV and price of GBTC, has just been launched, and we are delighted to announce that. We are particularly interested in helping our investors realize the true value of the underlying Bitcoin, and we will work hard to make this happen on their behalf, as the fund increases its holdings of GBTC."
The business described significant adjustments it would make to the administration of GBTC, including opening up the possibility for investors to redeem GBTC at net asset value via a Regulation M filing. According to the statement:
"Valkyrie is the finest organization to handle GBTC to ensure its investors are paid fairly."
Valkyrie also mentioned that it aims to lower fees from 200 to 75 basis points to better reflect industry standards. It also intends to try to offer redemptions for Bitcoin and cash to give investors more freedom and options when it comes to repurchasing their shares.