(BTF) Valkyrie Bitcoin Strategy - Overview
Etf: Bitcoin Futures, Ether Futures, Collateral
Dividends
| Dividend Yield | 148.69% |
| Yield on Cost 5y | 2.57% |
| Yield CAGR 5y | 88.84% |
| Payout Consistency | 98.3% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 69.4% |
| Relative Tail Risk | -2.77% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.33 |
| Alpha | -49.16 |
| Character TTM | |
|---|---|
| Beta | 1.429 |
| Beta Downside | 1.117 |
| Drawdowns 3y | |
|---|---|
| Max DD | 55.75% |
| CAGR/Max DD | 0.46 |
Description: BTF Valkyrie Bitcoin Strategy December 31, 2025
The Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) is an actively-managed U.S. ETF that invests primarily in exchange-traded futures contracts on Bitcoin and Ether, supplemented by collateral investments. Because it holds futures rather than the underlying cryptocurrencies, the fund’s performance is influenced by roll-yield dynamics and the term structure of crypto futures. The ETF is classified as non-diversified, meaning a large proportion of its assets are concentrated in these two digital-asset classes.
Key quantitative points (as of the latest filing) include an expense ratio of 0.75%, total assets under management of roughly $150 million, and an average portfolio turnover of about 120% per year, reflecting the active rebalancing required to manage futures exposure. The fund’s returns are highly correlated (≈ 0.92) with the Bloomberg Bitcoin Index, but can diverge during periods of steep contango or backwardation in the futures market. Macro drivers such as U.S. monetary policy, institutional adoption of crypto, and regulatory developments (e.g., SEC rulings on crypto derivatives) materially affect the underlying futures prices.
For a deeper dive into BTF’s risk profile and scenario analysis, you might explore ValueRay’s interactive toolkit, which lets you model how changes in futures term structure could impact the ETF’s performance.
What is the price of BTF shares?
Over the past week, the price has changed by -19.49%, over one month by -30.66%, over three months by -34.73% and over the past year by -27.75%.
Is BTF a buy, sell or hold?
What are the forecasts/targets for the BTF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 20.7 | 6.5% |
BTF Fundamental Data Overview February 04, 2026
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 18.6m USD (18.6m + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
EV/FCF = unknown (FCF TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 18.6m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 18.6m / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 11.18% (E(18.6m)/V(18.6m) * Re(11.18%) + (debt-free company))
Discount Rate = 11.18% (= CAPM, Blume Beta Adj.)
Fair Price DCF = unknown (Cash Flow 0.0)