Due to poor customer demand, Valkyrie will liquidate the Bitcoin Balance Sheet ETF.

The manager of digital content said that the Valkyrie Balance Sheet Opportunities FUND (Nasdaq: VBB), which now has traded on Nasdaq since December 2021, would stop operating at the end of the month and thereafter be delisted. According to a statement with the Securities and Exchange Commission on Tuesday, each shareholder who is part of the economy of the fund at dissolution will receive a cash withdrawal corresponding to the net asset value (NAV) of their holdings.

The fund's liquidation, according to Valkyrie, was the most prudent decision and was part of a regular evaluation of products to ensure that the business was best meeting consumer needs. The firm says that the decision was made after rigorous Board of Directors consultation. They came to the conclusion that ending the fund would be beneficial for everyone concerned. In Valkyrie's second ETF, which holds the highest stakes in the companies recognized for storing Bitcoin on their balance sheets, MicroStrategy (MSTR) and Tesla (TSLA), clients have never shown much enthusiasm. The study states that the fund's financial worth is currently barely around $570,000.

Stock may be traded up to the close of business on October 28. Valkyrie stated that it will cover all costs associated with the liquidation, cash release, and brokerage fees.

The Valkyrie Balance Sheet Opportunities ETF, which launched in December, sought to invest largely in businesses that deal in, have connection to, or participate in the Bitcoin investment vehicle on their account balances, as well as those who function as part of the Bitcoin ecosystem. The investment is the second in a line of ETFs from Valkyrie created to let people invest in the world of digital assets.

When numerous investors are always considering Bitcoin investments notwithstanding the market collapse, the fund is discontinued. More than 80% of financial advisors in the US, according to a recent study, are questioned about cryptocurrency, yet many find it difficult to efficiently allocate customers to this investment market. Investment in these businesses offers something that many people are looking for, as many publicly traded companies in the US currently hold Bitcoin and more corporations, institutions, and nations are steadily entering the field.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

iOS: t.ly/UUCj

Android: t.ly/cfYt