Asset management firm Valkyrie Investments submitted its fourth amendment to the Spot Bitcoin ETF application.
What Happened: “The offering is intended to be a continuous offering and is not expected to terminate until three years from the date of the original offering, unless extended as permitted by applicable rules under the 1933 Act,” the amended filing states.
The registrant also states that this registration statement on “on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement.”
After Valkyrie amended the filing, X user Bitcoin Archive wrote, “SEC giving clear signals now”
The move comes on the heels of European crypto ETF issuer, CoinShares obtaining the exclusive option to acquire Valkyrie Funds. The option is open until Mar. 31, 2024.
Meanwhile, BlackRock opened up the option for Wall Street banks to indirectly own the crypto assets in the spot Bitcoin ETF.
Why It Matters: The U.S. Securities and Exchange Commission (SEC) recently interacted with both BlackRock, and Fidelity. It highlights an active and open dialogue between regulators and industry players. It’s also a positive indication ahead of the approval deadline date of Jan.10, 2024.
Market expectations are that all the ETF applications will be approved at once to avoid any firm grabbing the first mover advantage.
Valkyrie had filed for its Spot Bitcoin ETF in June for the first time and already has Bitcoin Strategy ETF and Bitcoin Miners ETF to its accolades.
Also Read: Fidelity Spot Bitcoin ETF Listed, Crypto Market Guzzling With Expected Approval
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