- Valkyrie’s spot Bitcoin ETF amendment was accepted by the US SEC.
- This makes Valkyrie’s goal of offering a spot BTC ETF one step closer to fulfillment.
- BlackRock was the bigshot applicant for the Bitcoin ETF in the US.
Valkyrie’s spot Bitcoin ETF has taken a significant step forward as the US Securities and Exchange Commission (SEC) has accepted its proposed rule change.
The ETF is now set to be listed and traded under Nasdaq, pending further review and public comments. The official filing was made on July 17, and the deadline for public comments is set for 21 days after publication in the Federal Register.
Eric Balchunas, a senior ETF analyst at Bloomberg, confirmed the news on Twitter, highlighting that Valkyrie was the final applicant among a flurry of spot Bitcoin ETF filings. Balchunas also revealed that the Valkyrie Bitcoin ETF has chosen the ticker symbol “BRRR” for its Nasdaq listing.
The SEC has already accepted multiple Bitcoin ETF applications, including those from BlackRock, Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21Shares. This string of acceptances signals that the regulatory body is taking these applications seriously and could potentially pave the way for a momentous victory for the cryptocurrency market with the approval of a spot Bitcoin ETF.
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The acceptance of Valkyrie’s spot Bitcoin ETF and other similar applications marks a significant development for the cryptocurrency industry. A spot Bitcoin ETF would provide investors with a regulated and accessible way to gain exposure to Bitcoin’s price movements, potentially attracting more institutional and retail investors to the market.
As the SEC proceeds with its review process and considers public comments, market participants eagerly anticipate the outcome and its potential impact on the broader crypto ecosystem.
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