- The U.S. Securities and Exchange Commission accepts Valkyrie’s Bitcoin ETF Application.
- The decision follows a slew of other similar Bitcoin ETF Application acceptances.
- A 21-day comments period has started for the public and institutions to give comments and opinions on the application.
The U.S. Securities and Exchange Commission has given a nod to Valkyrie Bitcoin ETF Application. The Tennesse-based asset manager refiled its Bitcoin ETF application on June 21, five days after BlackRock filed its ETF proposal. Valkyrie’s application was the last to be filed after a massive wave of Bitcoin ETF applications from other companies.
Sharing the news on Twitter, Eric Balchunas, a senior ETF analyst at Bloomberg, tweeted that the SEC had accepted Valkyrie’s Bitcoin ETF application. According to the official filing dated July 17, the SEC said it had accepted the Valkyrie spot Bitcoin ETF for a potential rule change that would allow it to be listed and traded under Nasdaq. Valkyrie also chose the ticker “$BRRR” for its Bitcoin ETF.
The commission has now opened a public comments period to receive valuable feedback before commencing their official review process. The comments are open for 21 days before a review is conducted. The general public and institutions can give feedback and opinions on the ETF during the comments period.
This latest SEC approval means the commission has accepted two Bitcoin ETF applications within a week, first of Blackrock and now of Valkyrie. Likewise, Bitcoin ETF fillings by Fidelity Investments, Wisdom Tree, Invesco, VanEck, and ARK 21 have received similar acceptance from the SEC.
This is an important development for the cryptocurrency industry since a potential Bitcoin ETF approval might be a game changer for the crypto market.
The crypto market reacted positively to the news, with Bitcoin crossing the $30,000 mark and maintaining a steady hold. However, the cryptocurrency has shed some of the gains it made when the news went public. Nonetheless, it continues to trade above $30K at press time, according to data from CoinMarketCap.
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