Crypto asset manager Valkyrie has reportedly submitted the filing with the US SEC for an exchange-traded fund (ETF) that comes with exposure to Bitcoin mining entities on the Nasdaq Stock Market.

Specifically, via an SEC filing on January 26th, Valkyrie reportedly revealed that it’s Bitcoin Miners ETF will reportedly not carry out direct investments in Bitcoin (BTC), but a minimum of 80% of its net assets would provide exposure to the crypto asset, via the securities of firms “derive at least 50% of their revenue or profits” from BTC mining or providing hardware or software related to mining. 

The submitted application additionally suggested that Valkyrie would make a maximum investment of 20% of the ETF’s net assets, in firms possessing “a significant portion of their net assets” in Bitcoin.

Valkyrie reportedly rolled out a Bitcoin Strategy ETF in October last year, which provides BTC exposure in an indirect fashion using cash-settled futures contracts, following a green light granted by the SEC, for an ETF of the same type from ProShares.

At the time of publication, shares of the fund traded on the Nasdaq for $14.93, reportedly experiencing a drop of over 40% since opening on Oct. 22.

Last year, the SEC reportedly granted its approval to investment vehicles possessing connections with BTC derivatives for the first time, but has not offered the green light to any Bitcoin spot exchange-traded fund in America. 

The Valkyrie Bitcoin Miners ETF reportedly carries resemblances to the Digital Asset Mining ETF proposed by asset manager VanEck in December last year, which had plans down their pipelines to make an investment of 80% of its overall assets in securities from crypto mining companies. 

Valentine’s Day – February 14th this year – will reportedly be the ultimate deadline for the regulatory agency to generate a final decision on the fund, or extend the deadline.