The United States’ Securities and Exchange Commission (SEC) has accepted Valkyrie’s Bitcoin (
$110,171.00 ) (BTC) exchange-traded fund (ETF) proposal for official review.
According to data from the SEC’s Nasdaq rulemaking list, Valkyrie’s proposal for its spot Bitcoin ( $110,171.00 ) ETF entered the official docket on July 17.
Valkyrie’s listing on the docket is the second spot Bitcoin ( $110,171.00 ) ETF proposal being considered by the SEC. It came just a few days after the SEC published BlackRock’s spot Bitcoin ( $110,171.00 ) ETF proposal on July 13.
Spot Bitcoin ( $110,171.00 ) ETF proposals for listing on Nasdaq. Source: SEC
The filing is Valkyrie’s second attempt to launch a spot Bitcoin ( $110,171.00 ) ETF in the United States. The family investment fund previously proposed listing the Valkyrie Bitcoin ( $110,171.00 ) Trust on the New York Stock Exchange in January 2021. In response to regulatory pushback from the SEC, Valkyrie was still able to launch a futures-based Bitcoin ( $110,171.00 ) ETF in October 2021.
In an attached notice, SEC deputy secretary Matthew DeLesDernier mentioned that Nasdaq refiled for a proposed rule change allowing the listing of a spot Bitcoin ( $110,171.00 ) ETF by Valkyrie on July 3.
“The trust will only hold Bitcoin ( $110,171.00 ) , and will, from time to time, issue baskets in exchange for deposits of Bitcoin ( $110,171.00 ) s and to distribute Bitcoin ( $110,171.00 ) s in connection with redemptions of baskets,” DeLesDernier noted in the statement.
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According to the SEC data, the public can submit their feedback on the Valkyrie’s spot Bitcoin ( $110,171.00 ) ETF proposal during the 21-day comment period, or until Aug. 7. However, the SEC still has up to 45 days from the time of publication of the notice in the Federal Register, or within a longer period up to 90 days to approve or disapprove the rule change, DeLesDernier wrote.
Valkyrie’s latest Bitcoin ( $110,171.00 ) ETF proposal was filed in late June 2023, amid optimism around BlackRock’s spot BTC ETF filing. Valkyrie proposed to list the ETF under the ticker symbol “BRRR,” referencing a popular Bitcoin ( $110,171.00 ) community meme that represents the sound of printing money.
# Bitcoin ( $110,171.00 ) ETF go $BRRR https://t.co/amAyDryTxf
— Bhut Head ️ (@bhut_head) July 18, 2023
The renewed optimism over spot Bitcoin ( $110,171.00 ) ETFs has been fueled by BlackRock refiling for its spot BTC ETF on June 29. Previously, ARK Investment Management also filed an application for a spot Bitcoin ( $110,171.00 ) ETF in April, which became its third try get such a product approved by the SEC.
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