Valkyrie’s Bitcoin ETF Proposal Accepted by SEC for Review

Share post:

The United States Securities and Exchange Commission (SEC) has accepted Valkyrie’s proposal for a spot Bitcoin exchange-traded fund (ETF) for official review. This marks the second spot Bitcoin ETF proposal being considered by the SEC, following the recent publication of BlackRock’s proposal. Valkyrie’s new filing represents their second attempt to launch a spot Bitcoin ETF, after facing regulatory challenges in their previous proposal, leading to the launch of a futures-based Bitcoin ETF in 2021. The proposed ETF, listed under the ticker symbol “BRRR,” aims to solely hold Bitcoin and will issue baskets in exchange for deposits of the cryptocurrency. The public has a 21-day comment period to provide feedback on the proposal, while the SEC has up to 45 days to approve or disapprove the rule change. The growing interest and renewed optimism in spot Bitcoin ETFs have been fueled by BlackRock’s recent refiling for its spot BTC ETF, as well as ARK Investment Management’s application for a similar product.

Related

Maintain Your Horses! A Space Bitcoin ETF May perhaps well also Already Be Priced into Crypto.

There is a growing belief that the recent price surge in bitcoin could already factor in the potential approval of a spot Bitcoin ETF- a pivotal strategic investment move that holds significant influence in the crypto market. Investors and financial enthusiasts alike are keenly awaiting regulatory approval, a decision that could potentially catalyze the future growth trajectory of bitcoin prices. This speculation underscores not only the potential value that bitcoin holds as a digital asset but also the evolving role of institutional reactiveness in the cryptocurrency landscape.

Tim Draper’s Bold Prediction: Bitcoin (BTC) Price Set to Skyrocket to $250K!

In the world of finance, Bitcoin is increasingly recognized as a transformative force. With the potential to challenge...

Bitcoin ETF: Navigating the Perils of SEC Rejection and Fierce Opposition from Funds

A recent court order has directed the Securities and Exchange Commission (SEC) to reconsider its denial of Grayscale's...

Nike’s Shocking 10% Plunge: Sales Outlook Slashed

Nike, a leading athletic apparel⁢ company, ⁣recently announced plans to reduce costs by $2 ‍billion over the next...