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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_AggressiveInvestmentRiskMember_lbl" xml:lang="en-US">Aggressive Investment Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_CounterpartyRiskMember_lbl" xml:lang="en-US">Counterparty Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_LiquidityRiskMember_lbl" xml:lang="en-US">Liquidity Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_ActiveMarketRiskMember_lbl" xml:lang="en-US">Active Market Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_CashTransactionRiskMember_lbl" xml:lang="en-US">Cash Transaction Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_ClearingBrokerRiskMember_lbl" xml:lang="en-US">Clearing Broker Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_CommodityRegulatoryRiskMember_lbl" xml:lang="en-US">Commodity Regulatory Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_CreditsRiskMember_lbl" xml:lang="en-US">Credit Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_CyberSecurityRiskMember_lbl" xml:lang="en-US">Cyber Security Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_FrequentTradingRiskMember_lbl" xml:lang="en-US">Frequent Trading Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_InterestRatesRiskMember_lbl" xml:lang="en-US">Interest Rate Risk [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_InvestmentCapacityRiskMember" xlink:to="valkyrie_InvestmentCapacityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_InvestmentCapacityRiskMember_lbl" xml:lang="en-US">Investment Capacity Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_MarketMakerRiskMember_lbl" xml:lang="en-US">Market Maker Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_NaturalDisasterepidemicRiskMember_lbl" xml:lang="en-US">Natural Disaster/Epidemic Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_NewFundRiskMember_lbl" xml:lang="en-US">New Fund Risk [Member]</link:label>
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      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_ReverseRepurchaseAgreementsRiskMember" xlink:label="valkyrie_ReverseRepurchaseAgreementsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_ReverseRepurchaseAgreementsRiskMember" xlink:to="valkyrie_ReverseRepurchaseAgreementsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_ReverseRepurchaseAgreementsRiskMember_lbl" xml:lang="en-US">Reverse Repurchase Agreements Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_SubsidiaryInvestmentRiskMember" xlink:label="valkyrie_SubsidiaryInvestmentRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_SubsidiaryInvestmentRiskMember" xlink:to="valkyrie_SubsidiaryInvestmentRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_SubsidiaryInvestmentRiskMember_lbl" xml:lang="en-US">Subsidiary Investment Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_SwapAgreementsRiskMember" xlink:label="valkyrie_SwapAgreementsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_SwapAgreementsRiskMember" xlink:to="valkyrie_SwapAgreementsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_SwapAgreementsRiskMember_lbl" xml:lang="en-US">Swap Agreements Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_TaxRiskMember" xlink:label="valkyrie_TaxRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_TaxRiskMember" xlink:to="valkyrie_TaxRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_TaxRiskMember_lbl" xml:lang="en-US">Tax Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_TradingIssuesRiskMember" xlink:label="valkyrie_TradingIssuesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_TradingIssuesRiskMember" xlink:to="valkyrie_TradingIssuesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_TradingIssuesRiskMember_lbl" xml:lang="en-US">Trading Issues Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_ValuationRiskMember" xlink:label="valkyrie_ValuationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_ValuationRiskMember" xlink:to="valkyrie_ValuationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_ValuationRiskMember_lbl" xml:lang="en-US">Valuation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_VolatilityRiskMember" xlink:label="valkyrie_VolatilityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_VolatilityRiskMember" xlink:to="valkyrie_VolatilityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_VolatilityRiskMember_lbl" xml:lang="en-US">Volatility Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_S000105424Member" xlink:label="valkyrie_S000105424Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_S000105424Member" xlink:to="valkyrie_S000105424Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_S000105424Member_lbl" xml:lang="en-US">CoinShares Bitcoin Volatility Leveraged ETF</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_C000276186Member" xlink:label="valkyrie_C000276186Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_C000276186Member" xlink:to="valkyrie_C000276186Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_C000276186Member_lbl" xml:lang="en-US">CoinShares Bitcoin Volatility Leveraged ETF [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_CompoundingRiskMember" xlink:label="valkyrie_CompoundingRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_CompoundingRiskMember" xlink:to="valkyrie_CompoundingRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_CompoundingRiskMember_lbl" xml:lang="en-US">Compounding Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_LeveragedCorrelationRiskMember" xlink:label="valkyrie_LeveragedCorrelationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_LeveragedCorrelationRiskMember" xlink:to="valkyrie_LeveragedCorrelationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_LeveragedCorrelationRiskMember_lbl" xml:lang="en-US">Leveraged Correlation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_TargetExposureAndRebalancingRisksMember" xlink:label="valkyrie_TargetExposureAndRebalancingRisksMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_TargetExposureAndRebalancingRisksMember" xlink:to="valkyrie_TargetExposureAndRebalancingRisksMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_TargetExposureAndRebalancingRisksMember_lbl" xml:lang="en-US">Target Exposure and Rebalancing Risks [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_LeverageRiskMember" xlink:label="valkyrie_LeverageRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_LeverageRiskMember" xlink:to="valkyrie_LeverageRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_LeverageRiskMember_lbl" xml:lang="en-US">Leverage Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_S000105423Member" xlink:label="valkyrie_S000105423Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_S000105423Member" xlink:to="valkyrie_S000105423Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_S000105423Member_lbl" xml:lang="en-US">CoinShares Bitcoin Volatility Inverse ETF</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_C000276185Member" xlink:label="valkyrie_C000276185Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_C000276185Member" xlink:to="valkyrie_C000276185Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_C000276185Member_lbl" xml:lang="en-US">CoinShares Bitcoin Volatility Inverse ETF [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="valkyrie-20260608.xsd#valkyrie_InverseCorrelationRiskMember" xlink:label="valkyrie_InverseCorrelationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_InverseCorrelationRiskMember" xlink:to="valkyrie_InverseCorrelationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="valkyrie_InverseCorrelationRiskMember_lbl" xml:lang="en-US">Inverse Correlation Risk [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_S000105422Member" xlink:to="valkyrie_S000105422Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_S000105422Member_doc" xml:lang="en-US">CoinShares Bitcoin Volatility ETF</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_C000276184Member" xlink:to="valkyrie_C000276184Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_C000276184Member_doc" xml:lang="en-US">CoinShares Bitcoin Volatility ETF</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_S000105423Member" xlink:to="valkyrie_S000105423Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_S000105423Member_doc" xml:lang="en-US">CoinShares Bitcoin Volatility Inverse ETF</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_C000276185Member" xlink:to="valkyrie_C000276185Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_C000276185Member_doc" xml:lang="en-US">CoinShares Bitcoin Volatility Inverse ETF</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_S000105424Member" xlink:to="valkyrie_S000105424Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_S000105424Member_doc" xml:lang="en-US">CoinShares Bitcoin Volatility Leveraged ETF</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_C000276186Member" xlink:to="valkyrie_C000276186Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_C000276186Member_doc" xml:lang="en-US">CoinShares Bitcoin Volatility Leveraged ETF</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_VolatilityRiskMember" xlink:to="valkyrie_VolatilityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_VolatilityRiskMember_doc" xml:lang="en-US">Volatility Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_ValuationRiskMember" xlink:to="valkyrie_ValuationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_ValuationRiskMember_doc" xml:lang="en-US">Valuation Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_TradingIssuesRiskMember" xlink:to="valkyrie_TradingIssuesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_TradingIssuesRiskMember_doc" xml:lang="en-US">Trading Issues Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_TaxRiskMember" xlink:to="valkyrie_TaxRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_TaxRiskMember_doc" xml:lang="en-US">Tax Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_SwapAgreementsRiskMember" xlink:to="valkyrie_SwapAgreementsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_SwapAgreementsRiskMember_doc" xml:lang="en-US">Swap Agreements Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_SubsidiaryInvestmentRiskMember" xlink:to="valkyrie_SubsidiaryInvestmentRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_SubsidiaryInvestmentRiskMember_doc" xml:lang="en-US">Subsidiary Investment Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_ReverseRepurchaseAgreementsRiskMember" xlink:to="valkyrie_ReverseRepurchaseAgreementsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_ReverseRepurchaseAgreementsRiskMember_doc" xml:lang="en-US">Reverse Repurchase Agreements Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_PremiumdiscountRiskMember" xlink:to="valkyrie_PremiumdiscountRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_PremiumdiscountRiskMember_doc" xml:lang="en-US">Premium/Discount Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_OperationalRiskMember" xlink:to="valkyrie_OperationalRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_OperationalRiskMember_doc" xml:lang="en-US">Operational Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_NewFundRiskMember" xlink:to="valkyrie_NewFundRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_NewFundRiskMember_doc" xml:lang="en-US">New Fund Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_NaturalDisasterepidemicRiskMember" xlink:to="valkyrie_NaturalDisasterepidemicRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_NaturalDisasterepidemicRiskMember_doc" xml:lang="en-US">Natural Disaster/Epidemic Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_MarketMakerRiskMember" xlink:to="valkyrie_MarketMakerRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_MarketMakerRiskMember_doc" xml:lang="en-US">Market Maker Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_LeverageRiskMember" xlink:to="valkyrie_LeverageRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_LeverageRiskMember_doc" xml:lang="en-US">Leverage Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_InvestmentCapacityRiskMember" xlink:to="valkyrie_InvestmentCapacityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_InvestmentCapacityRiskMember_doc" xml:lang="en-US">Investment Capacity Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_InterestRatesRiskMember" xlink:to="valkyrie_InterestRatesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_InterestRatesRiskMember_doc" xml:lang="en-US">Interest Rate Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_FrequentTradingRiskMember" xlink:to="valkyrie_FrequentTradingRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_FrequentTradingRiskMember_doc" xml:lang="en-US">Frequent Trading Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_DigitalAssetRegulatoryRiskMember" xlink:to="valkyrie_DigitalAssetRegulatoryRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_DigitalAssetRegulatoryRiskMember_doc" xml:lang="en-US">Digital Asset Regulatory Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_DebtSecuritiesRiskMember" xlink:to="valkyrie_DebtSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_DebtSecuritiesRiskMember_doc" xml:lang="en-US">Debt Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_CyberSecurityRiskMember" xlink:to="valkyrie_CyberSecurityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_CyberSecurityRiskMember_doc" xml:lang="en-US">Cyber Security Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_CreditsRiskMember" xlink:to="valkyrie_CreditsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_CreditsRiskMember_doc" xml:lang="en-US">Credit Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_CommodityRegulatoryRiskMember" xlink:to="valkyrie_CommodityRegulatoryRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_CommodityRegulatoryRiskMember_doc" xml:lang="en-US">Commodity Regulatory Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_ClearingBrokerRiskMember" xlink:to="valkyrie_ClearingBrokerRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_ClearingBrokerRiskMember_doc" xml:lang="en-US">Clearing Broker Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_CashTransactionRiskMember" xlink:to="valkyrie_CashTransactionRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_CashTransactionRiskMember_doc" xml:lang="en-US">Cash Transaction Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_AuthorizedParticipantConcentrationRiskMember" xlink:to="valkyrie_AuthorizedParticipantConcentrationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_AuthorizedParticipantConcentrationRiskMember_doc" xml:lang="en-US">Authorized Participant Concentration Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_AssetConcentrationRiskMember" xlink:to="valkyrie_AssetConcentrationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_AssetConcentrationRiskMember_doc" xml:lang="en-US">Asset Concentration Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_ActiveMarketRiskMember" xlink:to="valkyrie_ActiveMarketRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_ActiveMarketRiskMember_doc" xml:lang="en-US">Active Market Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_ActiveManagementRiskMember" xlink:to="valkyrie_ActiveManagementRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="valkyrie_ActiveManagementRiskMember_doc" xml:lang="en-US">Active Management Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="valkyrie_CollateralInvestmentsRiskMember" xlink:to="valkyrie_CollateralInvestmentsRiskMember_doc" xlink:type="arc" />
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