Valkyrie Bitcoin and Ether Strategy ETF
|
||||||||
Consolidated Schedule of Investments
|
||||||||
December 31, 2023 (Unaudited)
|
||||||||
Principal Amount/Shares
|
Value
|
|||||||
U.S. TREASURY BILL – 54.9%
|
||||||||
U.S. Treasury Bill, 5.28%, 01/25/2024 (a)(b)
|
$ |
19,000,000
|
$
|
18,935,995
|
||||
TOTAL U.S. TREASURY BILL (Cost $18,933,177)
|
18,935,995
|
|||||||
MONEY MARKET FUND – 60.6%
|
||||||||
First American Treasury Obligations Fund - Class X, 5.28% (c)(e)
|
20,924,254
|
20,924,254
|
||||||
TOTAL MONEY MARKET FUND (Cost $20,924,254)
|
20,924,254
|
|||||||
TOTAL INVESTMENTS - 115.5% (Cost $39,857,431)
|
39,860,249
|
|||||||
Liabilities in Excess of Other Assets - (15.5)% (d)
|
(5,355,477
|
)
|
||||||
TOTAL NET ASSETS - 100.0%
|
$
|
34,504,772
|
||||||
(a)
|
The rate disclosed is the annualized discount rate as of December 31, 2023.
|
(b)
|
All or a portion of the security has been pledged as collateral in connection with open reverse repurchase agreements. At December 31, 2023, the value of securities pledged amounted to
$18,935,995.
|
(c)
|
The rate listed is the 7-day annualized yield as of December 31, 2023.
|
(d)
|
Includes assets and deposits with broker pledged as collateral for derivative contracts. At December 31, 2023, the value of these assets totals $9,504,207.
|
(e)
|
Fair value of this security exceeds 25% of the Fund's net assets. Additional information for this security, including the financial statements, is available from the SEC's EDGAR database at
www.sec.gov.
|
Valkyrie Bitcoin and Ether Strategy ETF
|
|||||||||||||||||
Consolidated Schedule of Open Futures Contracts
|
|||||||||||||||||
December 31, 2023
|
|
||||||||||||||||
The following futures contracts of the Fund's wholly-owned subsidiary were open at December 31, 2023:
|
|||||||||||||||||
Value
|
|||||||||||||||||
Description
|
Number of
Contracts
Purchased
|
Settlement
Month-Year
|
Current Notional Amount
|
Unrealized
Appreciation
|
Unrealized (Depreciation)
|
||||||||||||
Purchase Contracts:
|
|||||||||||||||||
CME Bitcoin Futures
|
82
|
Jan-24
|
$
|
17,418,850
|
$
|
-
|
$
|
(334,810
|
)
|
||||||||
CME Ether Futures
|
146
|
Jan-24
|
17,063,750
|
167,491
|
(328,574
|
)
|
|||||||||||
$
|
34,482,600
|
$
|
167,491
|
$
|
(663,384
|
)
|
Valkyrie Bitcoin and Ether Strategy ETF
|
Schedule of Open Reverse Repurchase Agreements
|
December 31, 2023 (Unaudited)
|
Counterparty
|
Interest Rate
|
Trade Date
|
Maturity Date
|
Net Closing Amount
|
Face Value
|
|||||||||
StoneX Financial, Inc.
|
6.25%
|
|
12/29/2023
|
1/2/2024
|
$
|
14,655,045
|
$
|
14,644,875
|
Valkyrie Bitcoin and Ether Strategy ETF
|
||||||||||
Summary of Fair Value Disclosure at December 31, 2023 (Unaudited)
|
||||||||||
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United
|
||||||||||
States of America ("U.S. GAAP") establish a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:
|
||||||||||
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
|
||||||||||
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may
|
||||||||||
include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves,
|
||||||||||
default rates and similar data.
|
||||||||||
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions
|
||||||||||
about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
|
||||||||||
The following is a summary of the inputs used to value the Fund's investments as of December 31, 2023:
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Fixed Income
|
||||||||||||||||
U.S. Treasury Bills
|
$
|
-
|
$
|
18,935,995
|
$
|
-
|
$
|
18,935,995
|
||||||||
Money Market Fund
|
||||||||||||||||
Money Market Fund
|
20,924,254
|
-
|
-
|
20,924,254
|
||||||||||||
Total Investments in Securities
|
$
|
20,924,254
|
$
|
18,935,995
|
$
|
-
|
$
|
39,860,249
|
||||||||
Other Financial Instruments*
|
||||||||||||||||
Futures Contracts
|
||||||||||||||||
Long
|
$
|
(495,893
|
)
|
$
|
-
|
$
|
-
|
$
|
(495,893
|
)
|
||||||
Liabilities
|
||||||||||||||||
Reverse Repurchase Agreement
|
-
|
(14,644,875
|
)
|
-
|
(14,644,875
|
)
|
||||||||||
Total Other Financial Instruments
|
$
|
(495,893
|
)
|
$
|
(14,644,875
|
)
|
$
|
-
|
$
|
(15,140,768
|
)
|
|||||
*The fair value of the Fund’s other financial instruments represents the net unrealized depreciation at December 31, 2023.
|
||||||||||||||||
Refer to the Fund's Schedule of Investments for a detailed break-out of holdings.
|