Share this article
Valkyrie to Liquidate Bitcoin Balance Sheet ETF After Limited Uptake
The crypto native investment shop’s Nasdaq-listed fund never really caught on with investors.
By Danny Nelson
Updated May 9, 2023, 3:59 a.m. Published Oct 11, 2022, 9:21 p.m.
Crypto asset manager Valkyrie Funds said Tuesday it will liquidate its Balance Sheet Opportunities ETF (VBB), a bitcoin bull-focused investment vehicle that fizzled during its less than one year life.
The fund will be liquidated at the end of October, said the company in a statement, and then delisted from Nasdaq where it has traded since December 2021. Investors who hold the exchange-traded fund through liquidation will get a cash redemption for the value of their shares, according to regulatory filings.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The fund’s dissolution “was the best course of action,” Valkyrie said, noting the decision to cut it was “part of an ongoing review of products aimed at ensuring the firm best meets client demand.”
Investors never showed much demand for Valkyrie’s third ETF, where the largest positions are Tesla (TSLA) and MicroStrategy (MSTR), companies known for holding bitcoin on their balance sheets. Net assets under management are currently only about $570,000, a miniscule number for ETFs.
VBB’s lineup of crypto-savvy stocks (not all of them held bitcoin) underperformed the S&P 500 for the year to date, shedding over 50% of its value versus a 25% decline for the benchmark index.
Valkyrie declined to comment.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Plus pour vous
Visa brings Circle's USDC settlement to U.S. banks following $3.5 billion stablecoin pilot
Initial participants include Cross River Bank and Lead Bank, which are settling with Visa in USDC over the Solana blockchain.
Ce qu'il:
- U.S. banks and fintechs can now settle Visa obligations in Circle's USDC, starting on the Solana blockchain.
- Early participants include Cross River Bank and Lead Bank, with broader rollout planned through 2026.
- Visa will also support Circle’s Arc blockchain and run a validator, extending its stablecoin infrastructure bet.
Top Stories
