Digital Asset Manager Valkyrie Investments Updates Spot Bitcoin ETF Filing
Valkyrie Investments, a digital asset manager, has made amendments to its spot Bitcoin exchange-traded fund (ETF) filing with the United States Securities and Exchange Commission (SEC). The updated registration statement aims to offer investors the opportunity to invest in common shares backed by Bitcoin. The shares will be traded under the ticker symbol “BRRR” on the Nasdaq Stock Market. However, Valkyrie is not allowed to sell BRRR securities until the registration statement becomes effective. This amendment follows a delay in the SEC’s decision on the Valkyrie Bitcoin Fund in September.
Other Amendments to Spot Bitcoin ETF Filings
Valkyrie’s updated spot Bitcoin ETF filing joins several other recently amended filings by Bitwise, BlackRock, Fidelity, Grayscale, VanEck, and ARK Invest. These amendments are seen as a positive sign of progress and potential approvals for Bitcoin ETFs. Analysts believe that these updates indicate movement happening behind the scenes.
Remaining Filers and SEC Consideration
While some firms have made amendments to their spot Bitcoin ETF filings, others like WisdomTree, Invesco, Galaxy, Global X, Hashdex, and Franklin Templeton have not yet updated their filings. The SEC currently has eight to ten filings for possible spot Bitcoin ETFs awaiting consideration.
Hot Take: Ongoing Amendments Signal Progress for Bitcoin ETFs
The recent amendments made to spot Bitcoin ETF filings suggest progress and potential approvals for these investment vehicles. This is an encouraging development for the crypto market as it paves the way for more institutional investors to enter the space. With multiple firms making adjustments to their filings, it indicates that there is ongoing work being done behind the scenes to meet regulatory requirements. As the SEC continues to review these filings, it is expected that more Bitcoin ETFs will be approved, providing greater accessibility and legitimacy to the cryptocurrency market.
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