US Securities Regulator Accepts Valkyrie’s Spot Bitcoin ETF Application

The U.S. Securities and Exchange Commission (SEC) has formally accepted the spot bitcoin ETF exertion filed by plus manager Valkyrie. The move, which opens the doorway to an authoritative reappraisal process, follows past week’s acknowledgment of Blackrock’s bitcoin ETF application.

U.S. SEC to Review Valkyrie’s Bitcoin ETF Application, Expects Public Feedback

The United States’ securities regulator has fixed the motion to an authoritative reappraisal of the spot bitcoin exchange-traded money (ETF) exertion submitted by fiscal services institution Valkyrie. The exertion was added to the authorities agency’s docket connected Monday, July 17.

The listing connected the SEC’s calendar comes aft this past Thursday the Commission acknowledged a akin exertion by Blackrock, the world’s largest plus absorption firm. Public comments connected the connection volition beryllium accepted for 21 days aft work successful the Federal Register.

Industry players are competing to motorboat a spot bitcoin ETF successful the U.S., including Bitwise, Wisdom Tree, Wise Origin Bitcoin Trust, Vaneck, Invesco, and Fidelity, but the SEC has truthful acold rejected a fig of applications. Among them, that for Valkyrie’s “Bitcoin Strategy ETF.”

Tennessee-based Valkyrie, which already offers a bitcoin futures ETF, submitted its caller exertion for an ETF named “Valkyrie Bitcoin Fund,” ticker awesome “BRRR,” connected June 21. That happened days aft the filing for fiscal elephantine Blackrock’s “Ishares Bitcoin Trust” gave origin for optimism that the SEC whitethorn yet greenlight a spot bitcoin ETF.

Then, successful aboriginal July, Valkyrie amended its filing to adhd a surveillance-sharing statement with starring U.S. cryptocurrency exchange, Coinbase, again pursuing successful the footsteps of Blackrock which did the aforesaid earlier. Both applicants chose Coinbase arsenic a spouse contempt the trading level being 1 of the companies targeted successful the SEC’s ongoing clampdown connected the crypto sector.

During the 21-day remark period, the SEC volition stitchery nationalist feedback and suggestions connected Valkyrie’s connection earlier it decides connected the application. The Securities and Exchange Commission is yet to o.k. a spot bitcoin exchange-traded money successful the U.S., a measurement that regulators successful neighboring Canada person already taken, portion Europe is preparing for the motorboat of its archetypal bitcoin ETF aboriginal this month.

Do you expect the SEC to officially judge different spot bitcoin ETF applications? Tell america successful the comments conception below.