Valkyrie’s Filing for a Bitcoin ETF with the SEC
A major step has been taken in the race to launch the first Bitcoin ETF in the US, as Valkyrie has filed a registration statement with the US Securities and Exchange Commission (SEC). This is part of a growing list of applicants attempting to issue a Spot Bitcoin ETF, including details about the proposed ETF’s investment objectives, policies, and procedures. If approved, Valkyrie’s ETF would give investors exposure to the price of Bitcoin without needing to buy and store the cryptocurrency directly.
Potential for Multiple Approvals
The move by Valkyrie is one of many, with Fidelity, Grayscale, and VanEck also filing registrations with the SEC for their respective Spot Bitcoin ETFs. This trend suggests the potential for multiple approvals to be announced early next week, which could pave the way for the launch of several new Spot Bitcoin ETFs in quick succession. The industry is anticipating approvals to come between January 8th and 10th.
Hot Take
The race to launch the first Bitcoin ETF in the US is intensifying as Valkyrie, Fidelity, Grayscale, and VanEck have all filed registration statements with the SEC, increasing the likelihood of multiple approvals early next week. This milestone moment for the US crypto sector is imminent, providing investors with easier access to Bitcoin and potentially driving significant changes in the industry.
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