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SEC Accepts Valkyrie’s Spot Bitcoin ETF Application for Review

  • The U.S. Securities and Exchange Commission’s (SEC) Federal Register indicates a second spot Bitcoin ETF application under formal review.
  • Valkyrie is among the companies competing with major financial giants like BlackRock to offer a fund directly investing in Bitcoin to U.S. customers.
  • According to the SEC’s review process, a 21-day comment period has been opened for Valkyrie’s application.

The application file of Valkyrie, one of the investment management companies that applied for the Spot Bitcoin ETF, has been added to the SEC’s calendar.

SEC Reviewing Valkyrie’s ETF Application

bitcoin-btc

The U.S. Securities and Exchange Commission’s (SEC) Federal Register indicates a second spot Bitcoin ETF application under formal review. Valkyrie’s application to list a Bitcoin exchange-traded fund (ETF) on NASDAQ is now listed on the commission’s calendar. The SEC also initiated a review of the iShares Bitcoin Trust on July 13th.

Valkyrie is among the companies competing with major financial giants like BlackRock to offer a fund directly investing in Bitcoin to U.S. customers. The company’s ETF, Valkyrie Bitcoin Fund, with the proposed ticker symbol ‘BRRR,’ was added to the SEC’s calendar on July 17th. This symbol is a humorous nod to mimicking the sound of money printing.

According to the SEC’s review process, a 21-day comment period has been opened for Valkyrie’s application. During this period, other institutions and the public are invited to provide their views on the potential impact of Valkyrie’s spot Bitcoin ETF on financial markets, the risks to investors, and the potential consequences if the SEC approves the application.

Spot Bitcoin ETF Race

Valkyrie’s reapplication is an update to the original ETF filing made in 2021. The revised application filed on July 21st identified Coinbase as a co-applicant for a contentious market surveillance agreement, following BlackRock’s own spot Bitcoin ETF filing on June 15th.

Since BlackRock’s move, other companies seeking to launch ETFs, such as WisdomTree, Fidelity, and Invesco, have also submitted their applications. Former SEC Chairman Jay Clayton has expressed a positive attitude toward the chances of at least one of these players having a successful application.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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