The Rise of Bitcoin ETFs
Bitcoin exchange-traded funds (ETFs) have been the talk of the investment town, and our good friend Leah Wald, CEO of Valkyrie Investments, knows a thing or two about them. Since its inception in 2020, Valkyrie has dropped not one but three Bitcoin-adjacent ETFs on Nasdaq, which is impressive considering most of us can barely drop our smartphones without shattering the screen.
Valkyrie’s Unique ETFs
Wald’s flagship Bitcoin Strategy ETF hit the ground running in October 2021, allowing investors to get indirect exposure to Bitcoin via cash-settled futures contracts. And let’s not forget about Valkyrie’s shiny new Bitcoin Miners ETF, taking the stage on February 8, 2022, under the ticker WGMI (which stands for “We’re Gonna Make It” — so much for subtlety!).
Bitcoin Accessibility for Everyone
Wald is on a mission to demystify the world of Bitcoin for everyday investors. “It’s like having a tool kit,” she said during our chat. “We want everyone to feel like they have the right tools to participate in the Bitcoin ecosystem.” It’s like trying to bake a cake with only a spoon; it’s not going to work out well.
The Holy Grail of ETFs
When it comes to Bitcoin ETFs, Wald has her eyes on the prize—a Bitcoin spot ETF. She refers to it as the “holy grail” of investment, and while she says we shouldn’t hold our breath for it, Valkyrie is working hard to make dreams come true—regulators, take note!
Changing Financial Perspectives
Wald shed light on how traditional finance views Bitcoin, saying, “The most common question is still around volatility and how to allocate accordingly.” It’s like trying to convince your grandparents that online banking is safe; some things take time, folks. The outdated views on portfolio structures need a makeover because, let’s face it, nobody wants to be stuck in 1975 when it comes to investing.
Institutional Interest and Future Predictions
Valkyrie recently celebrated surpassing $1 billion in assets under management, and Wald sees this as a sign that institutional interest in digital assets is climbing faster than my blood pressure when I forget my snack before lunch. “This is a stark difference from when we launched,” she noted. It’s evident that large pools of wealth are finally beginning to dip their toes into the crypto waters.
As for Bitcoin price predictions, Wald is bullish and predicts BTC will hit a staggering $70,000 by the end of the year. “We’re shooting for $70,000. It might feel like we should hold tight, but I’m convinced about the second half—especially Q4,” she said. Now, if only one could predict the next family gathering’s awkward moments with such confidence!
