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Valkyrie joins the rush with a BTC spot ETF application for its futures miner ETFs

Published on

June 21, 2023
Read Time:1 Minute, 52 Second

Cryptocurrency fund supervisor Valkyrie is submitting for a bitcoin exchange-traded spot fund (ETF), becoming a member of a number of different monetary corporations which have filed related filings with the US Securities and Trade Fee over the previous week. Valkyrie filed filed an S-1 registration kind for a bitcoin spot ETF with the SEC on June 21. In it, the corporate stated it could search to checklist its fund on the Nasdaq underneath the image BRRR.

Valkyrie is an previous hand at Bitcoin (BTC) futures ETFs. In October 2021, the second BTC futures ETF within the US, the Valkyrie Bitcoin Technique ETF (BTF), was launched, and in December of the identical yr, the Valkyrie Steadiness Sheet Alternatives (VBB). In October 2022, VBB was liquidated. Valkyrie additionally operates the Valkyrie Bitcoin Miners ETF (WGMI), which tracks securities of corporations that derive their earnings or earnings from BTC mining.

On Might 16, the corporate filed an utility for a BTC futures ETF dubbed Valkyrie Bitcoin Futures Leveraged Technique ETF (BTFD). BTFD could be extra of a fund than a belief, as is the case with the corporate's proposed BTC spot ETF.

And we have now yet another! Most fascinating right here with this up to date Valkyrie Bitcoin Fund prospectus – they modified their trade to Nasdaq (like BlackRock) and in addition gave us a ticker $BRRR. pic.twitter.com/3QxeFRfLPy

— James Seyffart (@JSeyff) June 21, 2023

Valkyrie was apparently impressed to behave by the current actions of his opponents. Steven McClurg, Valkyrie Investments' chief funding officer, instructed Cointelegraph in a Hashing It Out podcast in March that he believes a BTC ETF is barely doable "in a future authorities after the subsequent election or by legislative motion." could also be.

Associated: Grayscale Bitcoin Belief Nears 2023 Highs on BlackRock ETF Submitting as Patrons Observe

Nevertheless, on June 15, BlackRock utilized to checklist a BTC spot ETF on Nasdaq as a belief. WisdomTree and Invesco filed related filings on June 20. There are additionally unconfirmed stories that Constancy will submit an utility for a BTC spot ETF. In the meantime, BTC is surging and is up 6.41% on the time of writing.

Journal: Samsung's Bitcoin ETF, $700M Bust, Coinbase Leaves Japan: Asia Categorical



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : June 21, 2023
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