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Valkyrie Bitcoin Strategy ETF (BTF)
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Upturn Advisory Summary
12/19/2024: BTF (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Historic Profit: 57.52% | Upturn Advisory Performance  2 | Avg. Invested days: 32 |
| Profits based on simulation | ETF Returns Performance  5 | Last Close 12/19/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Historic Profit: 57.52% | Avg. Invested days: 32 |
Upturn Star Rating | ETF Returns Performance 5 |
| Profits based on simulation Last Close 12/19/2024 | Upturn Advisory Performance 2 |
Key Highlights
Volume (30-day avg) 49100 | Beta - |
52 Weeks Range 12.17 - 26.25 | Updated Date 12/21/2024 |
52 Weeks Range 12.17 - 26.25 | Updated Date 12/21/2024 |
AI Summarization
ETF Valkyrie Bitcoin Strategy ETF (BTF) Overview
Profile:
Valkyrie Bitcoin Strategy ETF (BTF) is an actively managed ETF that invests primarily in Bitcoin futures contracts. Its primary focus is to provide investors with exposure to the potential growth of Bitcoin without the complexities of directly owning and storing the cryptocurrency. BTF does not hold any physical Bitcoin.
Objective:
The ETF's primary investment goal is to seek capital appreciation by investing in Bitcoin futures contracts.
Issuer:
Valkyrie Investments, LLC is the issuer of BTF.
Reputation and Reliability:
Valkyrie Investments is a relatively new asset management firm founded in 2021. Despite its young age, it has quickly established a solid reputation for innovation and expertise in the digital asset space. The firm's leadership team comprises experienced professionals with strong track records in finance and technology.
Management:
The ETF is actively managed by Valkyrie's experienced investment team, led by CEO Steven McClurg. McClurg has over 20 years of experience in the financial industry, including roles at Morgan Stanley and Credit Suisse.
Market Share:
BTF's market share in the Bitcoin futures ETF space is relatively small, currently representing a few percentage points. However, it is still a new ETF, and its market share could potentially increase as investor awareness and adoption of Bitcoin futures ETFs grow.
Total Net Assets:
As of October 26, 2023, BTF has approximately $30 million in total net assets.
Moat:
BTF's competitive advantages include its active management approach, experienced investment team, and focus on providing investors with exposure to Bitcoin futures. The active management allows for greater flexibility in adjusting the portfolio to market conditions, potentially enhancing returns.
Financial Performance:
BTF has a limited track record, having launched in October 2021. Since then, the ETF has experienced significant volatility in line with Bitcoin's price movements. It is important to note that past performance is not necessarily indicative of future results.
Benchmark Comparison:
BTF's performance is typically compared to the Bloomberg Galaxy Bitcoin Index, which tracks the price of Bitcoin futures contracts. While the ETF has generally followed the index's trend, its active management may lead to deviations in performance at times.
Growth Trajectory:
The growth trajectory of BTF and other Bitcoin futures ETFs is highly dependent on the future adoption and price development of Bitcoin. With increasing institutional interest in Bitcoin and the growing regulatory clarity around cryptocurrency, the outlook for Bitcoin futures ETFs appears promising.
Liquidity:
BTF's average trading volume is moderate, but it has been increasing since its launch. The bid-ask spread is also relatively tight, indicating decent liquidity in the market.
Market Dynamics:
The market environment for BTF is directly influenced by factors affecting Bitcoin, including regulatory developments, investor sentiment, and macroeconomic conditions.
Competitors:
Key competitors to BTF in the Bitcoin futures ETF space include:
- ProShares Bitcoin Strategy ETF (BITO)
- VanEck Bitcoin Strategy ETF (XBTF)
- Global X Bitcoin Strategy ETF (BTC)
Expense Ratio:
BTF has an expense ratio of 0.95%.
Investment approach and strategy:
BTF uses an active management approach to invest in Bitcoin futures contracts. The portfolio composition changes dynamically based on the investment team's market outlook and analysis.
Key Points:
- Actively managed Bitcoin futures ETF
- Aims for capital appreciation
- Offers exposure to Bitcoin without direct ownership
- Relatively new with a limited track record
- Moderate liquidity and competitive expense ratio
Risks:
- High volatility due to the underlying asset
- Regulatory uncertainty surrounding Bitcoin
- Risk of losses associated with futures contracts
Who Should Consider Investing:
BTF may be suitable for investors seeking:
- Exposure to Bitcoin with active management
- Alternative to direct Bitcoin investment
- Potential for capital appreciation
- Tolerance for high volatility
Fundamental Rating Based on AI:
7/10
BTF receives a 7 out of 10 based on an AI-powered analysis of its fundamentals. While the ETF benefits from experienced management and an active strategy, its limited track record and exposure to a highly volatile asset necessitate a cautious approach. The future growth potential of BTF appears promising, contingent upon broader Bitcoin adoption and market conditions.
Resources and Disclaimers:
This analysis utilizes data from:
- Valkyrie Investments BTF website
- Bloomberg Terminal
- ETF.com
This information is intended for educational purposes only and should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions.
Disclaimer:
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 Strategy ETF
The fund is an actively-managed exchange-traded fund ("ETF") 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. It is non-diversified.
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