Valkyrie Announces Launch of “Valkyrie Opportunistic Fund”

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• Valkyrie announced a new proposal for improving GBTC management.
• It also announced the launch of the Valkyrie opportunistic fund.
• The new proposal includes various proposals including orderly redemptions and lower fees.

Valkyrie unveiled its new proposal for Grayscale Bitcoin Trust (GBTC) in one of its recent blog posts. The announcement comes amidst the light of recent events associated with Grayscale and its affiliated firms. The blog post stresses various proposals to improve the current management of GBTC.

Valkyrie highlighted three proposals to improve the current GBTC management. The first one includes the facilitation of orderly redemptions at net asset value. This is for all investors who want it through a timely Regulation M filing. Through this proposal, investors will also be able to redeem their shares at a fair price.

The second proposal will focus on lowering the fees to a more equitable level. According to the proposal, there will be a fee of 75 basis points, which is comparatively less than the 200 basis points of the current rate.

The last and final proposal focuses on allowing redemptions in bitcoin and cash for the investors. This proposal is focused on providing greater flexibility for users to redeem their shares.

An excerpt in the blog states:

W ...

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