The leader in digital asset ETF offerings brings combined Ether futures (“Ether Futures”) and Bitcoin futures (“Bitcoin Futures”) exposure under a single ETF wrapper for U.S. investors

Valkyrie Funds, LLC (“Valkyrie”), a leading digital asset investment management company, is excited to announce the first-of-its-kind dual cryptocurrency futures ETF: Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF) (the “Fund”). The Fund, which will continue to offer investors exposure to Bitcoin Futures and now will offer exposure to Ether Futures up to 50%, will begin trading under the new investment strategy, effective October 3rd, 2023 (the “Conversion”).

“Valkyrie prides itself on the commitment to delivering innovative solutions to investors and institutions who want exposure to cryptocurrency with the convenience of a commonly used investment vehicle,” says Leah Wald, CEO of Valkyrie. “I am exceptionally proud of the team who worked diligently with our counterparties and regulators to bring this new opportunity to market.”

The successful Conversion of the Fund will bring investors an entirely new way to gain exposure to the two largest cryptocurrencies by market capitalization in one simplified and accessible ETF through futures contracts.

"Our successful Conversion represents a breakthrough in the world of cryptocurrency investing for investors here in the States,” said Steven McClurg, CIO of Valkyrie. “By offering exposure to both Bitcoin Futures and Ether Futures contracts, we are providing investors with a unique and secure opportunity to diversify their portfolios and gain exposure within the rapidly expanding digital asset industry. We are excited to pioneer this innovative product and believe it will allow investors greater flexibility in capturing potential growth opportunities in this space."

The Fund will now track the value of Ether Futures and Bitcoin Futures. To learn more about the fund visit: https://valkyrie-funds.com/btf.

About Valkyrie

Valkyrie is a specialized alternative financial services firm at the intersection of traditional finance and the emerging cryptocurrency sector whose affiliates aim to offer asset management, research and other services. Headquartered in Nashville, Valkyrie aims to provide exposure to the emerging digital asset class through traditional financial vehicles. Valkyrie is led by seasoned asset managers who have previously launched multiple ETFs, publicly traded funds and Exchange Traded Products, including digital asset funds with backgrounds across Guggenheim Partners, UBS, Chicago Board of Trade, Chicago Mercantile Exchange, and the World Bank.

Disclaimers

Investing involves risks. The loss of principal is possible. The Fund’s investment objectives, risks, charges and expenses should be considered before investing. The Fund may not be suitable for all investors. The Fund’s prospectus contains this and other important information and can be found at this link: https://valkyrie-funds.com/btf/btf-prospectus/. Read it carefully before investing.

Bitcoin, Bitcoin Futures, Ether and Ether Futures are a relatively new asset class. They are subject to unique and substantial risks, and historically, have been subject to significant price volatility. The value of an investment in the Fund could decline significantly and without warning, including to zero. You should be prepared to lose your entire investment. The shares in the Fund will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective. Market Risk. The prices of Bitcoin, Bitcoin Futures, Ether and Ether Futures have historically been highly volatile. The value of the Fund’s investments in Bitcoin Futures, Ether Futures and other instruments that provide exposure to Bitcoin, Bitcoin Futures, Ether and Ether Futures – and therefore the value of an investment in the Fund – could decline significantly and without warning, including to zero. If you are not prepared to accept significant and unexpected changes in the value of the Fund and the possibility that you could lose your entire investment in the Fund, you should not invest in the Fund. The price and performance of cryptocurrency futures and cryptocurrency-linked instruments or assets should be expected to differ from the current “spot” prices (the prices at which the cryptocurrency can be purchased immediately) of those same currencies. These differences could be significant. Cryptocurrency futures are subject to costs, margin requirements, collateral requirements, and other limits that may negatively impact their performance or the performance of an investment vehicle which utilizes them. Cryptocurrencies are largely unregulated and cryptocurrency-linked investments may be more susceptible to fraud and manipulation than more regulated investments. Cryptocurrencies and cryptocurrency futures are subject to rapid price swings including as a result of actions and statements by influencers and the media, changes in the supply and demand for the cryptocurrency or their futures, and other factors. If a fund’s ability to obtain exposure to cryptocurrency-linked investments consistent with their investment objectives is disrupted for any reason, including as a result of a lack of liquidity, volatility, or a disruption in the cryptocurrency or cryptocurrency futures market, or as a result of margin requirements, position limits, or other conditions, factors, or limitations of a particular fund, the fund may not be able to achieve its investment objective and may experience significant losses. Cryptocurrencies are subject to unique and substantial risks, including significant price volatility and lack of liquidity. The value of a cryptocurrency may decline significantly without warning, including to zero. Cryptocurrencies are largely unregulated and cryptocurrency-linked investments may be more susceptible to fraud and manipulation than more regulated investments. If a fund’s ability to obtain exposure to cryptocurrency-linked investments consistent with their investment objectives is disrupted for any reason, including as a result of a lack of liquidity, volatility, or a disruption in the cryptocurrency or cryptocurrency futures market, or as a result of margin requirements, position limits, or other conditions, factors, or limitations of a particular fund, the fund may not be able to achieve its investment objective and may experience significant losses.

Certain Definitions: “futures” are derivatives contracts in which the purchaser agrees to buy or sell a specific quantity of an underlying asset on a particular date in the future; “derivatives” are investments that derive their value from the price of the underlying asset. The Fund is distributed by ALPS Distributors, Inc.

Tova Kaufmann Gregory FCA for Valkyrie Funds 469.585.9410 tova@gregoryfca.com

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