Valkyrie Bitcoin Fund (BRRR) Reports Material Agreement

TL;DR

**Valkyrie Bitcoin Fund (BRRR) just signed a big deal, watch for details on how it impacts the fund.**

AI Summary

Valkyrie Bitcoin Fund (BRRR) filed an 8-K on February 1, 2024, reporting an "Entry into a Material Definitive Agreement" and "Financial Statements and Exhibits." This filing indicates a significant new agreement that could impact the fund's operations or financial structure. For investors, this matters because material agreements can affect the fund's stability, growth prospects, or even its expense ratio, directly influencing the value of their BRRR shares.

Why It Matters

A material definitive agreement can significantly alter a company's financial health or operational strategy, directly impacting shareholder value.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement without disclosing its specifics, creating uncertainty about its potential positive or negative impact.

Analyst Insight

A smart investor would monitor Valkyrie Bitcoin Fund's (BRRR) subsequent filings and news releases for specific details about the 'Material Definitive Agreement' to assess its potential impact on the fund's performance and their investment.

Key Players & Entities

• Valkyrie Bitcoin Fund (company) — registrant of the 8-K filing
• BRRR (company) — trading symbol for Valkyrie Bitcoin Fund
• The NASDAQ Stock Market, LLC (company) — exchange where BRRR is registered
• February 1, 2024 (date) — date of earliest event reported

Forward-Looking Statements

• Further details regarding the 'Material Definitive Agreement' will be disclosed in subsequent filings or press releases. (Valkyrie Bitcoin Fund) — high confidence, target: Q1 2024
• The agreement could involve a new partnership or a change in the fund's operational structure. (Valkyrie Bitcoin Fund) — medium confidence, target: N/A

FAQ

Filing Documents

• brrr-8k_020124.htm (8-K) — 23KB
• ex10-14.htm (EX-10.14) — 241KB
• ex1014001.jpg (GRAPHIC) — 3KB
• ex1014002.jpg (GRAPHIC) — 1KB
• ex1014003.jpg (GRAPHIC) — 2KB
• 0001999371-24-001339.txt ( ) — 274KB

01

Item 1.01 Entry into a Material Definitive Agreement On January 17, 2024, Valkyrie Bitcoin Fund (the “Trust”) and BitGo Trust Company, Inc. (“BitGo”), a South Dakota trust company duly organized and chartered under the South Dakota Banking Law, entered into a Custodial Services Agreement (the “Agreement”). Pursuant to the Agreement, BitGo will provide services related to custody and safekeeping of the Trust’s bitcoin holdings. The Agreement requires the Trust to indemnify BitGo and certain of its affiliates and services providers against certain losses arising or related to the Trust’s use of the services, breach of the Agreement or violation of applicable law. The Agreement also requires BitGo to maintain an insurance policy which covers, at a minimum, copying and theft of private keys, insider theft or dishonest acts by BitGo employees or executives, and loss of keys and theft of assets directly related to BitGo’s custody of keys. The Agreement commenced on January 17, 2024 and will continue for one (1) year, unless earlier terminated in accordance with the terms of the Agreement. After the initial term, the Agreement will automatically renew for successive renewal terms, as established in the Agreement, unless either party notifies the other of its intention not to renew with a prior-notice. BitGo may terminate the Agreement for any reason upon providing at least thirty (30) days’ written notice to the Trust and to the Sponsor, or immediately if BitGo perceives a risk of legal or regulatory non-compliance associated with the Trust’s custodial account activity, among other things. The Sponsor may terminate the Agreement at any time upon providing at least 30 days’ written notice to BitGo, paying outstanding amounts and an early termination fee. The Sponsor expects to utilize BitGo’s services to custody a portion of the Trust’s bitcoin beginning on or about the date of this repo

Financial Statements and Exhibits

Financial Statements and Exhibits 10.14 BitGo Custodial Services Agreement

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 1, 2024 Valkyrie Bitcoin Fund Valkyrie Digital Assets LLC, as Sponsor of the Valkyrie Bitcoin Fund By: /s/ Leah Wald Name Leah Wald Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR