Valkyrie Filed for Bitcoin ETF with US SEC

Valkyrie Digital Assets is preparing to launch a Bitcoin ETF. Coindesk reported this on the 24th (local time).

The New York Stock Exchange (NYSE) has filed a 19B-4 form on behalf of an investment company for a Bitcoin ETF. This form begins a 45-day review period once the US Securities and Exchange Commission (SEC) approves the filing. During these 45 days, the SEC must approve or disapprove the application or extend the review period.

Stephen McCluw, Chief Investment Officer at Valkyrie Investments, said:

“This is what I wanted to do for five years. It was only recently believed that the SEC would approve the Bitcoin ETF. So I started my research in earnest from last August.”

In the past, the SEC completely rejected the application of the Bitcoin ETF, but the new SEC chairman Gary Gensler could change the regulator’s attitude toward new investment products. Gensler is a former chairman of the Commodity Futures Trading Commission (CFTC) and has taught cryptocurrency and blockchain courses at MIT in recent years.

In January, Dahlia Blas, director of investment management at SEC, left the regulator. In 2018, Blas also expressed concern that the bitcoin market was not large enough or liquid to prepare for an ETF.

Several companies have applied for a Bitcoin ETF in anticipation of a new government. Earlier in March, Valkyrie proposed an ETF that invests most of its capital in companies that have Bitcoin on their balance sheet or are linked to cryptocurrencies. Valkyrie also launched the Bitcoin Trust (trust) in early 2021.

The SEC is reviewing ETFs for Van Ek, Wisdom Tree and Cryptoin.

※ All posts in Coincode, a simple personal blog, are paraphrased & referenced from overseas news, not Coincode’s opinions. Coin codes are not based on facts! It doesn’t mean anything more than a reference (just filter it out). For quick news, use each coin’s Twitter!

[Coincode (coincode.kr), if you share, please leave the source. ]

The post Valkyrie, Bitcoin ETF application to the US the SEC appeared on FIRST coin code .

Disclaimer: The content of the “Coin Code Spot” section is one source that is provided after translation into Korean or English, and is composed based on a reliable source, but it does not mean that the information has been confirmed, and can only be used as a reference. We cannot provide opinions, etc. Faster and faster breaking news of various foreign media is available at’coincode.kr’ .

FINTECHPOST

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.