CoinShares Bitcoin and Ether ETF

Frequently Asked Questions About BTF

What does BTF invest in?

BTF invests in front-month bitcoin and ether futures contracts through a Cayman Islands subsidiary, maintaining an equal weight for both at each monthly rebalance. The fund does not directly invest in bitcoin or ether. Investment's total notional value is 100% of assets. The fund trades contracts exclusively on the CME, their value derived from the CME CF Bitcoin and Ether Reference Rates. BTF invests its remaining assets in collateral investments. If the fund reaches position limits set by the derivatives exchange, it could opt for futures contracts with extended terms or increase collateral investments. On Oct. 3, 2023, the fund changed its name from Valkyrie Bitcoin Strategy ETF to Valkyrie Bitcoin and Ether Strategy ETF, reflecting an added exposure to ether futures. Effective Oct. 31, 2024, due to an acquisition, BTF incorporated CoinShares in its name. Following July 15, 2025, the term Valkyrie was removed from the fund name.

What is the expense ratio of BTF?

CoinShares Bitcoin and Ether ETF (BTF) charges an expense ratio of 1.27%. This is the annual fee deducted from fund assets to cover management and operations.

How big is BTF?

CoinShares Bitcoin and Ether ETF (BTF) manages $13.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is BTF actively managed or an index fund?

BTF's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was BTF launched?

CoinShares Bitcoin and Ether ETF (BTF) launched in October 2021 and is managed by CoinShares.

How has BTF performed?

BTF's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.