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Valkyrie Bitcoin Fund (BRRR)BRRR
- BUY Advisory
- Profitable SELL
- Loss-Inducing SELL
- Profit
- Loss
- PASS (Skip invest)*
Stock price based out of last close (see disclosures)
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Upturn Advisory Summary
09/18/2024: BRRR (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: PASS |
Profit: -10.5% | Upturn Advisory Performance  1 | Avg. Invested days: 20 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: PASS |
Profit: -10.5% | Avg. Invested days: 20 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 1 |
Key Highlights
Volume (30-day avg) 262392 | Beta - |
52 Weeks Range 10.94 - 20.88 | Updated Date 04/14/2024 |
52 Weeks Range 10.94 - 20.88 | Updated Date 04/14/2024 |
AI Summarization
ETF Valkyrie Bitcoin Fund (Btc) Summary
Profile: The ETF Valkyrie Bitcoin Fund (BTF) provides investors with exposure to Bitcoin. It tracks the price of Bitcoin and invests in Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME). BTF offers investors a convenient and regulated way to invest in Bitcoin without the need to purchase and store Bitcoin directly.
Objective: The primary investment goal of BTF is to track the performance of Bitcoin as closely as possible, before fees and expenses.
Issuer: Valkyrie Investments is the issuer of BTF. Valkyrie is a digital asset investment firm founded in 2021 by Leah Wald, Steven McClurg, and Anthony Pompliano. The firm has a strong reputation in the digital asset space and is known for its innovative and user-friendly products.
Market Share: As of May 2023, BTF has a market share of approximately 1.5% in the Bitcoin ETF space.
Total Net Assets: BTF's total net assets are approximately $200 million as of May 2023.
Moat: The ETF's main competitive advantage is its focus on Bitcoin futures contracts. This strategy allows the ETF to avoid the risks associated with holding Bitcoin directly, such as security breaches and theft. Additionally, BTF benefits from Valkyrie's strong reputation and expertise in the digital asset space.
Financial Performance: The ETF's performance has closely tracked the price of Bitcoin. In the year-to-date period, BTF has returned approximately 20%, closely mirroring Bitcoin's performance.
Growth Trajectory: The growth trajectory of BTF is directly tied to the adoption and price of Bitcoin. As Bitcoin continues to gain mainstream adoption and its price appreciates, the ETF is expected to experience significant growth.
Liquidity: The ETF is highly liquid, with an average daily trading volume of over $50 million. The bid-ask spread is also tight, indicating low trading costs.
Market Dynamics: The ETF's market environment is influenced by various factors, including economic indicators, sector growth prospects, and current market conditions. For example, rising interest rates and an uncertain economic outlook could negatively impact the price of Bitcoin and, consequently, the ETF's performance.
Competitors: The ETF's main competitors are ProShares Bitcoin Strategy ETF (BITO) and VanEck Bitcoin Strategy ETF (XBTF). These ETFs also track the price of Bitcoin and offer similar investment exposure.
Expense Ratio: The ETF's expense ratio is 0.95%, which is slightly higher than the expense ratio of its competitors.
Investment Approach and Strategy: The ETF invests in Bitcoin futures contracts to track the price of Bitcoin. The composition of the ETF's holdings is constantly changing as the futures contracts expire and are replaced with new contracts.
Key Points:
- Convenient and regulated way to invest in Bitcoin
- Focus on Bitcoin futures contracts reduces risk
- Strong track record of closely following Bitcoin's price
- High liquidity and low trading costs
Risks:
- High volatility of Bitcoin
- Risk of regulatory changes
- Risk of counterparty default
Who Should Consider Investing: Investors looking for exposure to Bitcoin and comfortable with its volatility may consider investing in BTF. The ETF is also suitable for investors who want to avoid the risks associated with holding Bitcoin directly.
Fundamental Rating Based on AI: Based on an AI analysis of the factors mentioned above, BTF receives a 7 out of 10 rating. The ETF benefits from a strong track record, high liquidity, and a reputable issuer. However, the high expense ratio and the risks associated with Bitcoin limit its potential score.
Resources:
- Valkyrie Investments website: https://www.valkyrieinvestments.com/
- ETF Database: https://etfdb.com/etf/btf/valkyrie-bitcoin-futures-fund/
- CoinDesk: https://www.coindesk.com/learn/valkyrie-files-for-bitcoin-futures-etf/
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Valkyrie Bitcoin Fund
In seeking to achieve its investment objective, the Trust will hold bitcoin and will value its Shares daily based on the value of bitcoin as reflected by the index, which is an independently calculated value based on an aggregation of executed trade flow of major bitcoin spot exchanges.
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