Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
a)
The Shares of the Trust are listed in the accompanying table. The date the Shares of the Trust began trading, their symbols and their
primary listing exchange are indicated below:
Trust
Commencement
of Operations
Ticker
Symbol
Name
of each exchange on which registered
Valkyrie
Bitcoin Fund
January
11, 2024
BRRR
The
Nasdaq Stock Market, LLC
As of February 29, 2024, there were approximately 48 DTC participating Shareholders of record of the Trust. Because most of the Trust’s
Shares are held by brokers and other institutions on behalf of Shareholders, we are unable to estimate the total number of Shareholders
represented by these record holders.
The
Trust made no distributions to Shareholders during the fiscal year ended December 31, 2023. The Trust has no obligation to make periodic
distributions to Shareholders.
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) As
of December 31, 2023, no Shares of the Trust were registered under the 1933 Act. Accordingly, as of December 31, 2023 there were no proceeds
from the sale of registered securities.
c) From
October 31, 2023 through December 31, 2023, no Shares were redeemed.
Item
6. [Reserved]
25
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.