1. BITBILIHome
  2. Article

SEC greenlights Valkyrie Spot Bitcoin ETF application for the US Market

• 27 views

TL;DR Breakdown

  • Crypto adoption took a significant step forward when the US SEC approved the Valkyrie Spot Bitcoin ETF application.
  • The SEC’s adoption indicates a regulatory tilt toward cryptos.
  • ETF rejections produced confusion, but Valkyrie’s acceptance suggests a more open attitude. However, the SEC will carefully review the idea.

Description

The United States Securities and Exchange Commission (SEC) officially accepted the Valkyrie Spot Bitcoin ETF application, marking a significant step towards embracing the digital revolution.  This Indicates a possible breakthrough for mass crypto adoption in the world’s largest economy. The move also represents a watershed moment for the crypto community. If the Valkyrie Spot Bitcoin … Read more

The United States Securities and Exchange Commission (SEC) officially accepted the Valkyrie Spot Bitcoin ETF application, marking a significant step towards embracing the digital revolution. 

This Indicates a possible breakthrough for mass crypto adoption in the world’s largest economy. The move also represents a watershed moment for the crypto community. If the Valkyrie Spot Bitcoin ETF is given the go-light, it will be the first of its kind, giving investors exposure to Bitcoin without requiring them to own any crypto physically.

The SEC approves Valkyrie’s Bitcoin ETF

The US Securities and Exchange Commission approved the Valkyrie spot Bitcoin ETF’s requested rule amendment to list and trade on the Nasdaq on July 17. After publishing the Federal Register notice, the public has 21 days to submit comments. After collecting public feedback, the United States will launch its review. 

When the US Securities and Exchange Commission approved Valkyrie’s registration for a spot Bitcoin ETF, Bloomberg senior ETF analyst Eric Balchunas moved to Twitter to spread the news. Among the flurry of firms seeking approval for spot Bitcoin ETFs, Valkyrie was the very last to do so. He also mentioned that the Valkyrie Bitcoin ETF chose the ” BRRR ” ticker for its Nasdaq debut.

The application for a BlackRock spot Bitcoin ETF has already been approved by the US SEC. Additionally accepted are filings for other Bitcoin ETFs from Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21Shares. 

This demonstrates unequivocally that the regulator is considering the applications, and a decision to approve the Bitcoin ETF would be a significant triumph for the crypto sector. 

The road to a Bitcoin ETF in the US has been long and winding; the SEC denied many prior applications for ETFs due to concerns about market manipulation, inadequate oversight, and inadequate investor protection. Due to the confusion and irritation it has produced, the potential mainstream adoption of digital assets has been pushed back due to the rejection of earlier proposals by the crypto community.

An overview of the Valkyrie Bitcoin ETF

The proposed Valkyrie Spot Bitcoin ETF would give investors a simple and regulated option to put their money into Bitcoin. By approving the Valkyrie Spot Bitcoin ETF application, the SEC has signaled a change in the regulatory climate. It shows the SEC is willing to work with the increasing market for crypto investment products that adhere to established rules. 

In accepting Valkyrie’s application for review, the SEC indicated that it saw the potential that Valkyrie would address past concerns or propose new methods to manage risks.

However, it is good to note that the application’s acceptance does not guarantee final approval. The SEC will nonetheless give the proposal careful consideration, considering things like the impact on the market, the safety of investors, and the good it will do for the economy as a whole. 

Market participants and enthusiasts will watch the SEC’s decision intently, as it might signify a more receptive posture towards cryptos and serve as a precedent for future ETF applications.

BTC price upbeat after spot Bitcoin ETF application acceptance

The price of Bitcoin started going up after BlackRock filed for a spot Bitcoin ETF. This led to several other spot Bitcoin ETF filings. As buyers wait for news about Bitcoin ETF filings, the price of Bitcoin has again risen above $30,000.

However, In the past 24 hours, the price of BTC has dropped by 1%, and it is selling for nearly $30,000. The lowest price in the last 24 hours is $29,685, and the highest is $30,330. Also, the number of trades has increased by about 68% in the last 24 hours, which shows buyers are interested.

SEC greenlights Valkyrie Spot Bitcoin ETF application for the US MarketSEC greenlights Valkyrie Spot Bitcoin ETF application for the US Market

Source: Bitcoin price live data on CoinMarketCap

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:SEC greenlights Valkyrie Spot Bitcoin ETF application for the US Market

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月19日 09:43
Next 2023年7月19日 12:00

Related articles

  • LUNC validator breathes new life into struggling community

    TL;DR Breakdown ClassyCrypto’s return brings renewed hope for the struggling LUNC Classic cryptocurrency. ClassyCrypto plans to actively participate in the LUNC network’s governance and collaborate with developers for substantial changes. The LUNC community eagerly anticipates ClassyCrypto’s reinvigorated involvement in the project. Description In a surprising turn of events, popular Twitter personality, and LUNC validator, ClassyCrypto, has breathed new life into the struggling LUNC Classic (LUNC) cryptocurrency. Taking to Twitter, ClassyCrypto announced his intentions to participate in the LUNC network’s governance actively, signaling a strong commitment to pushing for substantial changes. Acknowledging the past failures and setbacks of … Read more In a surprising turn of events, popular Twitter personality, and LUNC validator, ClassyCrypto, has breathed new life into the struggling LUNC Classic (LUNC) cryptocurrency. Taking to Twitter, ClassyCrypto announced his intentions to participate in the LUNC network’s governance actively, signaling a strong commitment to pushing for substantial changes. Acknowledging the past failures and setbacks of the LUNC system, ClassyCrypto emphasized that these experiences have served as valuable lessons for both LUNC validators and other interested parties. In a recent tweet,…

    Article 2023年7月9日

  • What’s the Future of Cryptocurrency? A Tour Of The Industry’s Prospects

    Cryptocurrencies have been gaining momentum ever since their inception, but it is the price of Bitcoin that is acting as the main tug for the entire industry and as the most attractive instrument for investors. It is investors who determine the path of development of absolutely any invention or undertaking, or, more correctly – human avarice. Though it is true that for an invention to become successful, it has to first prove its usefulness to average people, market realities state that the market potential and successful advertising of a product determines its future as a return-generating instrument. Contents hide 1 Cryptocurrency Industry’s Overview 1.1 The Appeal and Use Cases of Cryptocurrencies 1.2 Challenges and Concerns 1.3 The Rise of DeFi 2 Looking Back at Past Perceptions 3 Cryptocurrency Market Overview May 2023 3.1 Bitcoin Sees Bullish Trend Amidst Banking Crisis and Regulatory Crackdown 4 What to expect in the future 4.1 1. Regulatory Showdown: Cryptocurrency Battles Reach a Tipping Point 4.2 2. Technological Advancements 4.3 3. Increasing Adoption: 4.4 4. Bitcoin’s Performance in Relation to the S&P 500: A Risk-On…

    Article 2023年6月3日

  • MUFG to enable Japanese banks in launching Yen-pegged stablecoins on public blockchains

    TL;DR Breakdown MUFG, Japan’s largest bank, is launching Progmat Coin, a stablecoin issuance platform, to enable Japanese banks to issue yen-pegged stablecoins on public blockchains. The platform will support stablecoin issuance on Ethereum, Polygon, Avalanche, and Cosmos, with plans to expand to other networks in the future. The move comes as new regulations in Japan allow trust banks to issue stablecoins, opening up opportunities for banks to explore digital currency offerings. Japan’s largest bank, Mitsubishi UFJ Financial Group (MUFG), has announced its stablecoin issuance platform, Progmat Coin, which several Japanese banks will soon utilize to launch Japanese yen-pegged stablecoins on multiple public blockchains. This move comes as new regulations have opened avenues for trust banks to explore stablecoin offerings. MUFG’s Progmat Coin to facilitate stablecoin issuance MUFG revealed that Progmat Coin would serve as the backbone for issuing bank-backed stablecoins on Ethereum, Polygon, Avalanche, and Cosmos, with plans to incorporate more networks in the future. The platform aims to provide a universal digital asset payment method for stablecoins, other cryptocurrencies, and even a Japan-based central bank digital currency (CBDC). It…

    Article 2023年6月8日

  • Things are getting worse for China’s economy – Details

    TL;DR Breakdown China’s economy is struggling with no signs of a quick rebound. Major setbacks in the property market, potential developer defaults, and falling housing sales. Natural disasters, such as floods, have hindered economic activities, especially construction. Description China’s once-booming economy is facing a whirlwind of challenges, making a quick rebound look bleak. With issues cropping up from the real estate sector and the shadow of deflation looming large, the economic outlook is under a dark cloud. A Suffering Real Estate Sector and Natural Calamities China’s property market, a significant pillar of its … Read more China’s once-booming economy is facing a whirlwind of challenges, making a quick rebound look bleak. With issues cropping up from the real estate sector and the shadow of deflation looming large, the economic outlook is under a dark cloud. A Suffering Real Estate Sector and Natural Calamities China’s property market, a significant pillar of its economy, is not painting a pretty picture. With investors’ confidence being shaken by potential defaults from major developers and a consistent drop in housing sales, the outlook remains dim….

    Article 2023年8月13日

  • Biden and McCarthy are quite confident that U.S. will not default

    TL;DR Breakdown Despite ongoing tense negotiations over raising the U.S. debt ceiling, both President Joe Biden and House Speaker Kevin McCarthy expressed confidence that the U.S. will not default on its debt. While negotiations have moved into a more serious phase, key points of contention remain, including the Republican request to attach work requirements to federal food benefits. Despite Democrats’ calls for revenue-raising mechanisms to be part of the discussion, McCarthy stated that taxes will not be part of the debt ceiling negotiations. Despite ongoing negotiations and the looming deadline to raise the debt ceiling, both President Joe Biden and House Speaker Kevin McCarthy expressed confidence that the United States would not default on its debt. Their assurances come at a crucial time when the government is racing against the clock to strike a deal and avert an economic catastrophe. What are Biden and McCarthy planning? Biden and McCarthy’s statements indicate that the previously stalled negotiations are now entering a more serious and concrete phase, with the possibility of a deal drawing nearer. The June 1 deadline to raise the…

    Article 2023年5月18日
TOP