As of the end of October, the SEC is reportedly reviewing eight to ten potential spot Bitcoin spot ETF filings.
Asset manager Valkyrie has caused a stir recently with its decision to amend its prospectus for a location Bitcoin (BTC) ETF filed with the US Securities and Exchange Commission (seconds,
Valkyrie Bitcoin ETF Update
James Seifert, a renowned analyst at Bloomberg, shared This development on social media platform X highlights Valkyrie’s efforts to meet the SEC’s requirements for a Bitcoin ETF. Valkyrie’s updated Form S-1 registration statement is designed to provide investors the opportunity to invest in common shares backed by Bitcoin.
These shares represent fractional undivided beneficial interests and ownership in the Trust and are expected to trade on the Nasdaq Stock Market under the ticker symbol “BRRR”. It is important to note that the information presented in this prospectus is subject to change, and Valkyrie is prohibited from selling BRRR securities until the registration statement becomes effective.
this latest Amendment This comes after the SEC decided to delay its decision on the Valkyrie Bitcoin Fund in late September. However, Valkyrie has been allowed Permission Converting your Bitcoin futures ETF into a two-in-one investment vehicle by combining Bitcoin and Ether futures contracts into one contract. The company has already started buying Ether futures contracts.
The move to update the Valkyrie Spot Bitcoin ETF is in line with similar modifications made by other notable players in the crypto space, including Bitwise. blackrock inc (NASDAQ:BLK), fidelity investment, grayscale investmentVanEck, and ARK Invest.
According to experts in the crypto ETF sector, these amendments are seen as a positive sign of progress towards the impending approval. According to Seifert, this recent update to Valkyrie is further evidence of the activity happening behind the scenes.
Surprisingly, while Valkyrie and several other firms have updated their filings, many known spot Bitcoin ETF filers have not yet done so. WisdomTree, Invesco, Galaxy Digital, GlobalX, Hashdex and Franklin Templeton are among those that have not yet updated their applications.
What’s next for Bitcoin ETF applications?
As of the end of October, the SEC is Allegedly Reviewing eight to ten potential spot Bitcoin spot ETF filings. Agency Chairman Gary Gensler acknowledged this in a statement and stressed the importance of regulatory considerations in the process.
Additionally, the SEC is planning a closed-door meeting to discuss Grayscale’s application for a spot Bitcoin ETF following the US Court of Appeals’ order to reconsider the decision. This meeting is expected to be important in the ongoing journey towards approving these innovative investment products.
The crypto community is following these developments closely, and the outcome of these discussions and decisions will undoubtedly have a significant impact on the future of cryptocurrency investing.
The November 2 closed-door meeting at the SEC is an important event worth watching, as it could bring us one step closer to the long-awaited approval of the first Bitcoin spot ETF in the United States.
Benjamin Godfrey is a blockchain enthusiast and journalist who loves writing about real-life applications of blockchain technology and innovations to promote general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies drives his contributions to well-known blockchain media and sites.
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