Valkyrie Bitcoin Fund
For the period ended Mar 31, 2024. Filed May 14, 2024.
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Mar 31, 2024 · Filed May 14, 2024
BRRR$20.74-1.6%Stored close · as of Nov 10, 2026
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
| (a) | On January 10, 2024, Valkyrie Funds LLC, an affiliate of the Sponsor, purchased 40,000 Shares at a per-Share price of $13.00 (the “Seed Shares”) in a transaction exempt from registration under Section 4(a)(2) of the 1933 Act. Delivery of the Seed Shares was made on January 11, 2024. Total proceeds to the Trust from the sale of the Seed Shares was $520,000. |
| (b) | The original registration statement on Form S-1 registering an indeterminate amount of common shares of beneficial interest, or “Shares,” of the Valkyrie Bitcoin Fund (File No. 333-252344) was declared effective on January 10, 2024. From January 10, 2024 (the commencement of the offering) through March 31, 2024, 27,080,000 Shares of the Trust were sold at an aggregate offering price of $ 452,597,587. The offering proceeds were invested in bitcoin in accordance with the Trust’s investment objective stated in the prospectus. |
| (c) | In connection with redemptions of baskets held by an Authorized Participant, BRRR redeemed 1 basket (comprising 5,000 Shares) during the three months ended March 31, 2024 at a price per Share of $14.69. The following table provides information about BRRR’s redemptions by Authorized Participants during the three months ended March 31, 2024: |
| Calendar Month | Number of Shares Redeemed | Average Price Paid per Share |
|---|---|---|
| January 2024 | 0 | $0.00 |
| February 2024 | 1 | 14.69 |
| March 2024 | 0 | 0.00 |
| Total | 1 | $14.69 |
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