Cointelegraph met Leah Wald (CEO of Valkyrie Investments), to discuss the importance of Bitcoin (BTC), an exchange-traded fund, (ETF), and the future prospects for digital assets.
Valkyrie Investments was founded in 2021. It is the only asset manager to have three Bitcoin-adjacent ETFs that trade on the Nasdaq. After a ProShares-approved ETF, Valkyrie launched the Bitcoin Strategy ETF in October 2021. It offered indirect exposure to BTC and cash-settled futures contracts. Valkyrie also offers a Balance Sheet Opportunities ETF, which invests in public companies that have Bitcoin exposure. The Bitcoin Miners ETF, an investment firm, began trading on Nasdaq’s ticker WGMI on February 8, 2022.
Wald stated that Valkyrie is focused on making it easy for new investors to invest in Bitcoin. Wald stated to Cointelegraph that Valkyrie wants to make sure everyone can participate in the ecosystem.
Wald also explained the importance and history of the Bitcoin ETF. He noted that the topic has been relevant since the Winklevoss twins filed for a Bitcoin trust. Wald stated that a Bitcoin ETF eventually allows people to access an asset class that they didn’t have before. Wald stated that there are many ETFs available, including Valkyrie’s futures ETF and thematic ETFs. Wald said that while we shouldn’t expect a Bitcoin spot ETF (which she calls the “holy trinity”), it is Valkyrie’s goal to have one. She also stated that the firm is working hard with regulators to achieve that goal.
Wald also shared her thoughts about ETFs and how traditional finance might view Bitcoins and digital assets. Wald stated that volatility is still a major question and how to allocate funds accordingly. Wald said that traditional portfolio structures can be seen as narrow or “bunk”, which is why a paradigm shift in the traditional financial world is necessary.
Wald also noted that many of the basic questions she receives are about Bitcoin or Ether (ETH). She said that while we expect many people to know as much as we do, some conversations are still very basic.
Cointelegraph spoke to Wald about Valkyrie’s recent $1 billion in assets under administration. Wald believes this is a sign of how rapidly institutional interest in digital assets grows. This is a marked difference from 2021 when Valkyrie was launched. Wald explained that this means large wealth pools are entering the crypto sector.
Cointelegraph reached out to Wald before concluding their interview. We asked her for her prediction on Bitcoin’s price this year. Although she stated that she was bullish about Bitcoin, Wald predicted that BTC would reach $70,000 by 2022. “We are extremely bullish for Q4 and the second half. Although it sounds like we should hold our ground, we are aiming for $70,000 by year’s end.
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