Nasdaq Submits New Applications for BlackRock and Valkyrie Bitcoin Funds, Boosting Chances of Approval

Nasdaq Files Amended Forms for Bitcoin ETF Bids

Nasdaq has submitted amended 19b-4 forms for spot bitcoin exchange-traded funds (ETFs) from BlackRock and Valkyrie, signaling a push for approval from the Securities and Exchange Commission (SEC). This move comes as no surprise to market watchers who were anticipating updated filings before any SEC approval. Some sources believe that the 19b-4 approvals could be granted by next week.

Registration Statements Still Needed for Launch

While the amended forms are a step forward, the issuers of the proposed ETFs, including Grayscale Investments, will still need their registration statements called (S-1s or S-3) in order to officially launch their products.

Crypto Industry Awaits SEC Approval

The crypto industry eagerly awaits the SEC’s decision on whether to approve a spot bitcoin ETF. If approved, it would be the first of its kind in the U.S.

“It’s Basically Done,” Says Analyst

Bloomberg Intelligence analyst Eric Balchunas believes that the process is nearing completion, with final registration statements due on Monday. However, he emphasizes the need for an official announcement from the SEC.

About Author

Sarah is a reporter at The Block who covers policy, regulation, and legal developments in the crypto industry. With a background in securities regulation, she has been reporting on crypto since early on. Sarah is based in Washington D.C. and can be followed on Twitter @ForTheWynn.

Hot Take: Nasdaq Seeks Approval for Bitcoin ETF Bids

Nasdaq has taken a significant step forward by filing amended forms for spot bitcoin exchange-traded funds (ETFs) from BlackRock and Valkyrie. This move indicates a strong desire for approval from the SEC, which is eagerly awaited by the crypto industry. While the filings are a positive development, issuers of the proposed ETFs still need their registration statements to be effective in order to launch their products. If approved, these ETFs would be the first of their kind in the U.S. Analyst Eric Balchunas believes that the process is nearing completion, but an official announcement from the SEC is still needed to confirm the launch date.