NASHVILLE, Tenn., Oct. 11,
2022 /PRNewswire/ -- Valkyrie Funds, LLC. (the Firm),
a leading fund manager focused on digital assets, today announced
plans to liquidate one of the exchange traded funds (ETFs) it
manages.
The fund set to be closed is the Valkyrie Balance Sheet
Opportunities FUND (Nasdaq: VBB), with a CUSIP of 91917A 306. Upon
liquidation, the fund will also be delisted from the Nasdaq
Exchange. This action has been taken as part of an ongoing review
of products aimed at ensuring the firm best meets client demand
This action was taken after thorough consultation with the
Firm's Board of Directors, and comes after it was determined that
discontinuing the fund was the best course of action for all
involved.
Shareholders may sell shares up until the end of the trading day
on October 28, 2022, understanding
that a decision to close this fund will not impact any potential
brokerage fees due as a result of said transaction.
The fund intends to liquidate on October
31, 2022. Any shareholders still holding shares of the fund
at liquidation will receive a cash distribution equal to the net
asset value (NAV) of their shares.
The Firm will satisfy expenses related to the liquidation and
potential distribution of cash proceeds, aside from brokerage
expenses.
About Valkyrie Funds,
LLC
Valkyrie Funds LLC ("Valkyrie Funds") is a specialized
alternative financial services firm at the intersection of
traditional finance and the emerging digital asset sector whose
affiliates aim to offer asset management, research and other
services. Headquartered in Nashville,Valkyrie Funds aims to provide
exposure to the digital economy through traditional financial
vehicles. Valkyrie Funds is led by seasoned asset managers who have
previously launched multiple ETFs, publicly traded funds and
Exchange Traded Products, including digital asset funds with
backgrounds across Guggenheim Partners, UBS, Chicago Board of Trade, Chicago Mercantile
Exchange, and The World Bank.
Disclaimer
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities. Such offerings may only
be made by prospectus and other offering documents that discloses
the risks and disclosures of such offering. Past performance is not
indicative of future results. There is no guarantee that any
specific outcome will be achieved. Investments may be speculative,
illiquid and there is a risk of total loss.
Carefully consider the Funds' investment objectives, risk
factors, charges and expense before investing. This and other
information can be found in the full prospectus available HERE for
the Bitcoin Strategy ETF, HERE for the Innovative
Balance Sheet ETF and HERE for the Bitcoin Miners ETF.
Read the prospectus carefully before investing or sending
money.
ETFs distributed by ALPS Distributors, Inc. Member
FINRA.
Investing involves risk, including potential loss of
capital.
Forward Looking
Statements
This press release contains forward-looking statements. In
addition, from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base
these forward-looking statements on our expectations and
projections about future events, which we derive from the
information currently available to us. Such forward-looking
statements relate to future events or our future performance,
including: our financial performance and projections; our growth in
revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by
those that are not historical in nature, particularly those that
use terminology such as "may," "should," "expects," "anticipates,"
"contemplates," "estimates," "believes," "plans," "projected,"
"predicts," "potential," or "hopes" or the negative of these or
similar terms. In evaluating these forward-looking
statements, you should consider various factors, including: our
ability to change the direction of the company; our ability to keep
pace with new technology and changing market needs; and the
competitive environment of our business. These and other
factors may cause our actual results to differ materially from any
forward-looking statement. Forward-looking statements are
only predictions. The forward-looking events discussed in
this document and other statements made from time to time by us or
our representatives, may not occur, and actual events and results
may differ materially and are subject to risks, uncertainties and
assumptions about us. We are not obligated to publicly update
or revise any forward-looking statement, whether as a result of
uncertainties and assumptions, the forward-looking events discussed
in this document and other statements made from time to time by us
or our representatives might not occur.
Media contact
Ryan Gorman
Chief Communications Officer
Valkyrie Investments
ryan@valkyrieinvest.com
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SOURCE Valkyrie Investments