Bitcoin is having yet another moment, rebounding significantly from early April and market crash lows. Investors worried about missing out on potential future gains with the risk appetite for volatility would do well to consider the CoinShares Valkyrie Bitcoin Fund (BRRR).
Cryptocurrencies are a high volatility asset class, including bitcoin, the world’s largest cryptocurrency. A number of factors create the enhanced volatility profile, including the immaturity of the crypto ecosystem related to other asset classes, and high sensitivity to news and sentiment. Another likely factor is that a large percentage of bitcoin is owned by long-time holders, dubbed “whales,” according to research by River. This in turn results in reduced liquidity and trading volume, making price moves more pronounced.
Image source: River
Although bitcoin hit a low around $75,000 during the tariff-fueled market crash on April 9, it has since rebounded to just over $93,500 as of midday trading on April 24. Sharp price swings remain a hallmark of bitcoin, giving it a higher-risk profile. However, noncorrelated performance to U.S. equities in the last few weeks make bitcoin worth consideration in an uncertain market environment.
Capture Bitcoin Price Momentum With BRRR
BRRR may be one solution for investors with the risk appetite for cryptocurrencies. BRRR gained 21.5% between April 8 through April 24, 2025. Year to date, the ETF is up 0.11% on a total return basis, as of April 23, according to Y-charts data. BRRR sits in positive territory, while U.S. equities remain deep in the negative YTD.
The fund provides exposure to bitcoin’s price movements with the ease of access through traditional brokerages. Through BRRR, investors can capture bitcoin price movements while avoiding many of the extra steps required with direct bitcoin investment, such as storage.
BRRR seeks to reflect the price performance of the CME CF Bitcoin Reference Rate – New York Variant, minus fees and expenses. This index uses the same six bitcoin exchanges as the CME CF Bitcoin Reference Rate, but calculates bitcoin’s price at New York Market close (4 p.m. ET).
The fund is a trust that passively holds bitcoin (meaning it’s physically backed). Shares held are tied to the value of the bitcoin held. It also is not an investment company, and therefore does not fall under the 1940 Act. The bitcoin held is custodied by Coinbase, BitGo, and Komainu, with private keys kept in cold storage. In other words, the means to access the bitcoin held by the custodians remains offline, disconnected from the internet. This provides an extra layer of protection from hacking.
BRRR carries management fees of 0.25%.
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