what's CoinShares Valkyrie Bitcoin Fund?

The CoinShares Valkyrie Bitcoin Fund is a spot Bitcoin exchange-traded fund (ETF) that provides investors with direct exposure to Bitcoin through a regulated financial product. Launched in 2024 following SEC approval, the fund holds physical Bitcoin as its underlying asset, custodied by Coinbase Custody Trust Company. Shares of the fund trade on the Nasdaq under the ticker BRRR, allowing traditional investors to gain Bitcoin exposure via standard brokerage accounts without needing to manage cryptocurrency wallets or exchanges directly. The ETF operates by creating and redeeming shares in baskets through authorized participants, who deposit or receive Bitcoin in exchange for fund shares. This structure ensures the fund's value closely tracks the spot price of Bitcoin, as measured by the CME CF Bitcoin Reference Rate. Managed by Valkyrie Investments, which was acquired by CoinShares in 2024, the fund emphasizes secure, institutional-grade custody and compliance, bridging traditional finance with the cryptocurrency ecosystem.

CoinShares Valkyrie Bitcoin Fund recorded zero net flow on December 18, 2025.