CoinShares Valkyrie announces approval of liquidation of the CoinShares Bitcoin Leverage ETF

New York, NY – (BUSINESS WIRE) – November 18, 2025 – Valkyrie Funds LLC (“CoinShares Valkyrie”) announced today approval of the liquidation of CoinShares Bitcoin Leverage ETF (NASDAQ: BTFX), a series of Valkyrie ETF Trust II (the “Fund”).

Based upon the recommendation of CoinShares Valkyrie, the investment advisor of the Fund, the Board of Trustees of Valkyrie ETF Trust II determined that it was in the best interests of the Fund to liquidate the Fund. Accordingly, the Board of Trustees approved the liquidation of the Fund pursuant to a plan of liquidation and termination.

Shareholders may sell their holdings in the Fund prior to the end of the trading day on December 15, 2025. Customary brokerage charges may apply to these transactions. The last day the Fund will accept creation and redemption orders is December 15, 2025, and the Fund’s shares will subsequently be de-listed. The Fund will liquidate on or around December 16, 2025. Any person holding shares in the Fund as of the applicable liquidation date will receive a cash redemption amount equal to the net asset value of such shares after the Fund has discharged and/or made reasonable provisions for the payment of all of its charges, taxes, expenses and liabilities. Shareholders generally will recognize a capital gain or loss on any redemption.

To prepare for the termination and liquidation of the Fund, the Fund’s portfolio managers may increase the Fund’s assets held in cash and similar instruments. As a result, on or around December 15, 2025, the Fund is expected to deviate from its stated investment strategies and policies and will no longer be managed to meet its investment objective.

CoinShares Valkyrie is a federally registered investment advisor and serves as the Fund’s investment advisor. CoinShares Valkyrie is a privately-held company that provides a variety of investment services. CoinShares Valkyrie has collective assets under management or supervision of approximately $313 million as of November 14, 2025 through exchange-traded funds. CoinShares Valkyrie is based in New York, New York.

Contact: Valkyrie Funds LLC

Press Inquiries: [email protected]

About CoinShares

CoinShares is a leading global digital asset manager that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that include corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK, and the US. CoinSharesis regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the U.S by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Such offerings may only be made by prospectus and other offering documents that discloses the risks and disclosures of such offering. Past performance is not indicative of future results. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss.

Carefully consider the Funds' investment objectives, risk factors, charges and expense before investing. This and other information can be found in the full prospectus available here. Read the prospectus carefully before investing or sending money.

ETFs distributed by ALPS Distributors, Inc. Member FINRA.

Investing involves risk, including potential loss of capital.