- The Securities and Exchange Commission added Valkyrieโs spot Bitcoin ETF application to its official docket, signaling an official review of the filing.
- Other institutions and the public have 21 days to submit their comments on the possible impacts of Valkyrieโs filing, per the commissionโs deadline.
- Valkyrie refiled its Bitcoin exchange-traded fund application after wall street titan BlackRock submits its own application on June 15.
- The asset manager named Coinbase as its surveillance partner in a July 5 filing after the SEC deemed previous submissions inadequate.
The Federal Register of the U.S. Securities and Exchange Commission shows that a second spot Bitcoin ETF filing was added for official review. Indeed, Valkyrieโs submission to list a Bitcoin exchange-traded fund on the NASDAQ is now listed on the commissionโs calendar.
The SEC also accepted the iShares Bitcoin Trustย for review on July 13.
Valkyrie is one of several financial juggernauts like BlackRock in the race to offer U.S. customers access to a fund that invests directly in Bitcoin. The companyโs ETF named the Valkyrie Bitcoin Fund under the proposed ticker โBRRRโ โ a nod to a meme about mimicking the sound of money printing โ was added to the SECโs docket on July 17.
According to the SECโs review procedure, a 21-day comment period has opened for Valkyrieโs application. During this time, other institutions and the public are welcome to submit opinions on how Valkyrieโs spot Bitcoin ETF might impact financial markets, the fundโs risk to investors, and other possible outcomes should the SEC approve the application.
Spot Bitcoin ETF Marathon
Valkyrieโs resubmission was an update to its original ETF filed in 2021. The amended application filed on July 21 named Coinbase as its partner for a contentious market surveillance agreement shortly after wall street titan BlackRock opened the floodgate with its own spot Bitcoin ETF filing on June 15.
Since BlackRockโs move, other would-be ETF issuers like WisdomTree, Fidelity, and Invesco have made a punt with their own respective applications. Former SEC Chair Jay Clayton opined bullish sentiment regarding the chances of a successful filing from at least one of these players.
