leadership
confidence high
sentiment neutral
materiality 0.50
Valkyrie Bitcoin Fund appoints CoinShares Co. as Co-Sponsor; Sponsor withdrawal notice cut to 60 days
CoinShares Bitcoin ETF
- CoinShares Co., subsidiary of publicly traded CoinShares International, appointed Co-Sponsor of Valkyrie Bitcoin Fund effective March 15, 2024.
- Amendment to Trust Agreement shortens Sponsor's voluntary withdrawal notice from 120 to 60 days.
- Upon Sponsor's withdrawal, Co-Sponsor automatically becomes successor Sponsor with full powers.
- Co-Sponsor receives no compensation from Trust until it becomes successor Sponsor.
- Trust is not an investment company under 1940 Act nor a commodity pool; Sponsor not registered as investment adviser.