Valkyrie Financial

Steven McClurg serves as Chief Investment Officer and co-founder, overseeing portfolio construction and product strategy across the firm's ETF and closed-end fund lineup. He works alongside CEO Leah Wald, who co-founded the firm in 2019. McClurg's background includes previous roles in digital-asset and traditional finance structuring.

Valkyrie is registered with the SEC as an investment adviser and operates as a specialist asset manager issuing regulated exchange-traded products. Unlike a hedge fund structure, its flagship offerings are publicly listed ETFs that trade on Nasdaq and NYSE Arca, providing daily liquidity and standard 40-Act fund protections.

Coinfund, a crypto-native investment firm, acquired Valkyrie in November 2023. Valkyrie continues to operate under its own brand as the ETF and regulated-product arm of Coinfund's broader platform, which manages venture capital, liquid token, and early-stage blockchain investments.

Valkyrie offers multiple product types. The Valkyrie Bitcoin Fund (BRRR) provides physically backed spot Bitcoin exposure. The firm has also managed Bitcoin Strategy ETFs using futures contracts, a combined Bitcoin and Ether Strategy ETF, and a closed-end interval fund targeting decentralized finance protocols. The product mix reflects both pure-beta Bitcoin access and multi-asset crypto strategies.

Valkyrie does not publicly operate a co-investment platform in the traditional private-markets sense. Its products are publicly listed or registered interval funds designed for broad institutional and wealth-management access rather than bespoke LP co-investment structures. Post-acquisition, any private-stage co-investment activity would likely flow through Coinfund's separate venture vehicles.

Valkyrie's mandate targets digital assets, Bitcoin, and adjacent blockchain infrastructure. The firm does not operate in traditional equity, fixed income, private equity, real estate, or other conventional asset classes except where those intersect with Bitcoin balance-sheet strategies. It is a digital-asset specialist, not a multi-asset manager.

Valkyrie is registered with the Securities and Exchange Commission as an investment adviser and issues its ETFs under the regulatory framework of the Investment Company Act of 1940. This registration subjects the firm to SEC reporting, compliance, and custody standards that distinguish it from offshore or unregistered crypto fund structures.