Valkyrie has applied to the Securities and Exchange Commission to list an exchange-traded fund, offering exposure to stocks of Bitcoin mining firms listed on Nasdaq.
Valkyrie Bitcoin Miners ETF will allocate about 80% of its holding to firms that get about half of their profits from BTC mining.
The fund applies a management fee of 0.75% and would feature both US and overseas firms, including emerging markets.
The news comes as asset managers shift focus to crypto mining firms or those with the digital asset in their portfolio since the SEC halted the approval of spot bitcoin ETFs.
VanEck applied for a similar digital asset-mining fund to the Securities and Exchange Commission last year.
Valkyrie became the third asset manager to get SEC approval to list a bitcoin futures ETF last year after ProShares and VanEck.
Source: Coindesk