Cointelegraph met Leah Wald, CEO of investment firm Valkyrie Investments for digital assets, to learn more about the importance of the Bitcoin ETF (BTC) and the future of digital assets.
In comparison, Valkyrie Investments was launched in 2020 and is one of the few asset managers that has three adjacent bitcoin ETFs traded on Nasdaq. ETF Valkyrie launched a Bitcoin strategy in October 2021 that offered indirect exposure to BTC through cash-backed futures contracts after the US Securities and Exchange (SEC) agreed to buy a similar ETF from ProShares. Valkyrie also has balance sheet ETF options for investing in public companies when trading bitcoin. In addition, on February 8, 2022, the Bitcoin Miners ETF, owned by an investment company, began trading on Nasdaq under the WGMI index.
According to Wald, Valkyrie aims to “demystify bitcoin investments” for new investors. “We want everyone to be able to participate in this ecosystem,” Wald told the Cointelegraph.
In addition, Wald explained the importance of the Bitcoin ETF, noting that the topic has been important since the Winklevoss twins first applied for a Bitcoin loan. Wald said that the Bitcoin ETF will eventually open up access to the asset class for many people who did not have access before. Wald also mentioned that there are many ETFs out there, such as Valkyrie futures ETFs and thematic ETFs. While Wald noted that we “should not hold our breath” on the bitcoin ETF, which she calls “The Holy Grail”, she said that Valkyrie’s job is to ultimately secure the bitcoin’s position in the ETF, noting that the company “I try my best to work hard and work with regulators. ” “for REACH it is.
In addition to his thoughts on ETFs, Wold comments on how the traditional financial world can view bitcoin and digital assets. “This is still the most common question about volatility and how to distribute it accordingly,” Wald said. She added that typical portfolio structures are considered “slim” or narrow, so the traditional financial world requires a new paradigm shift.
Wald goes on to note that some of the main questions she has received are about what bitcoin is or whether ether (ETH) is the same as bitcoin. “I think sometimes in our industry we think and expect a lot of people to be as far down the rabbit hole as we could be, but some of the conversations are still at a very basic level,” she said.
Cointelegraph Wold asked about Valkyrie’s recent 1 billion AUM move. Although he is impressed, Wald believes it shows how fast organizations’ interest in digital assets is growing. She noted that this represented a “drastic difference” from when Valkyrie was first launched in 2021. Thus, Wald explained, this indicates that great riches are flowing into the crypto sector.
Before concluding his interview with Wald, Cointelegraph asked the CEO to share his bitcoin price predictions for this year. While she has stated that she is clearly optimistic about Bitcoin, Wald predicted that BTC could reach $ 70,000 by the end of 2022. “We are very optimistic in the second half of the year and especially in the fourth. It looks like we should take it, but we’re looking at $ 70,000 by the end of the year. “