Crypto asset manager Valkyrie has launched an exchange-traded fund with exposure to Bitcoin on the Nasdaq Stock Market.

In a Wednesday SEC filing, Valkyrie said its Balance Canvas Opportunities ETF volition not invest directly in Bitcoin (BTC) simply 80% of its internet assets would offer exposure to the crypto asset through securities of U.S. companies with BTC on their balance sheets. These companies may include custodians, crypto exchanges and traders.

The filing specifies that Valkyrie's ETF may invest upwards to 10% of its internet assets in securities of Bitcoin mining firms, as well as upward to 5% in the securities of pooled investment vehicles in the United States that concur BTC. At the time of publication, shares of the fund under the ticker VBB are trading for $24.48, having fallen more than 1.5% since launching on Wed.

Valkyrie'due south latest ETF filing follows the firm launching a Bitcoin Strategy ETF, which offered indirect exposure to BTC with cash-settled futures contracts, in October. Shares of the fund are currently trading on the Nasdaq for $18.70, having fallen roughly 27% since opening on Oct. 22.

Though the SEC has given the greenlight to investment vehicles linked to Bitcoin derivatives, including one from Valkyrie and another from ProShares, the regulatory body has yet to corroborate an application allowing direct investments in crypto. Several crypto ETF applications are still under consideration in the United States, while its neighbor to the north — Canada — has approved BTC ETFs from Fidelity.

Related: SEC rejects WisdomTree's application for spot Bitcoin ETF

According to data from Cointelegraph Markets Pro, the price of Bitcoin rose above $49,000 on Dec. 16 but has fallen more than thirty% since reaching an best loftier price of $69,000 on Nov. 9. At the fourth dimension of publication, the BTC cost is $47,736.