Valkyrie ‘BRRR’ spot Bitcoin ETF enters SEC’s Nasdaq rulemaking list
The restored optimism over spot Bitcoin ETFs has been sustained by BlackRock refiling for its spot BTC ETF on June 29. Formerly, ARK Investment Management likewise submitted an application for a spot Bitcoin ETF in April, which became its 3rd shot get such an item authorized by the SEC.Magazine: Should you orange pill kids? The case for Bitcoin kids books
The United States Securities and Exchange Commission (SEC) has actually accepted Valkyries Bitcoin (BTC) exchange-traded fund (ETF) proposition for main review.According to information from the SECs Nasdaq rulemaking list, Valkyries proposition for its area Bitcoin ETF got in the main docket on July 17. Valkyries listing on the docket is the 2nd spot Bitcoin ETF proposal being thought about by the SEC. It came just a few days after the SEC published BlackRocks area Bitcoin ETF proposal on July 13. Area Bitcoin ETF proposals for listing on Nasdaq. Source: SECThe filing is Valkyries second attempt to launch an area Bitcoin ETF in the United States. The household financial investment fund formerly proposed listing the Valkyrie Bitcoin Trust on the New York Stock Exchange in January 2021. In reaction to regulatory pushback from the SEC, Valkyrie was still able to introduce a futures-based Bitcoin ETF in October 2021. In an attached notification, SEC deputy secretary Matthew DeLesDernier pointed out that Nasdaq refiled for a proposed guideline change allowing the listing of an area Bitcoin ETF by Valkyrie on July 3.” The trust will only hold Bitcoin, and will, from time to time, concern baskets in exchange for deposits of Bitcoins and to disperse Bitcoins in connection with redemptions of baskets,” DeLesDernier noted in the statement.Related: BlackRock Bitcoin ETF could open $30 trillion worth of wealth, Bloomberg expert saysAccording to the SEC data, the public can submit their feedback on the Valkyries area Bitcoin ETF proposition throughout the 21-day comment period, or till Aug. 7. 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 disapprove the rule or authorize modification, DeLesDernier wrote.Valkyries most current Bitcoin ETF proposition was submitted in late June 2023, in the middle of optimism around BlackRocks area BTC ETF filing. Valkyrie proposed to note the ETF under the ticker symbol “BRRR,” referencing a popular Bitcoin neighborhood meme that represents the sound of printing cash. #Bitcoin ETF go $BRRR https://t.co/amAyDryTxf— Bhut Head (@bhut_head) July 18, 2023