1. BITBILIHome
  2. Article

SEC greenlights Valkyrie Spot Bitcoin ETF application for the US Market

• 84 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

  • Did Apple just make a move into the Metaverse?

    TL;DR Breakdown Apple has unveiled its Vision Pro headset, marking its entry into the metaverse and the augmented/virtual reality (AR/VR) sectors. The Vision Pro uses a new spatial computing platform, visionOS, to create interactive digital spaces. While the tech industry welcomes Apple’s entry, concerns about the company’s restrictive ecosystem and the headset’s high price persist. With a history of creating paradigm shifts in technology, Apple seems to be yet again at the forefront of a potentially game-changing move. This time, it’s not a smartphone or a watch, but the newly unveiled Vision Pro headset, a mixed reality device that could redefine how we interact with digital spaces. In essence, the metaverse may have just welcomed a new heavyweight contender. Apple’s Vision Pro – An industry game-changer While the device launched at Apple’s annual WWDC event, the buzz around its implications for the burgeoning augmented and virtual reality sectors is palpable. Many industry leaders hail Apple’s entry as a critical milestone, a momentous occasion that will invigorate confidence in VR and AR markets. HTC’s CEO Cher Wang, whose company has a…

    Article 2023年6月11日

  • House Republicans propose crypto regulatory framework

    TL;DR Breakdown US lawmakers propose the Financial Innovation and Technology for the 21st Century Act, aiming to regulate the crypto sector. The bill has been designed after extensive consultations with stakeholders and offers clear regulatory guidelines. Description The dawn of an epoch-making legislation aimed at putting the fast-paced crypto sector under a regulatory microscope is upon us, with US lawmakers putting forward the Financial Innovation and Technology for the 21st Century Act. Advocating for a rigorous structure to guard consumers, stimulate ingenuity, and secure America’s dominance in financial and technological sectors, this … Read more The dawn of an epoch-making legislation aimed at putting the fast-paced crypto sector under a regulatory microscope is upon us, with US lawmakers putting forward the Financial Innovation and Technology for the 21st Century Act. Advocating for a rigorous structure to guard consumers, stimulate ingenuity, and secure America’s dominance in financial and technological sectors, this bill promises sweeping changes in the digital asset landscape. Breaking down the framework Leading the charge is Glenn Thompson, the Chairman of the House Committee on Agriculture, alongside French Hill…

    Article 2023年7月21日

  • Binance CEO reveals ban on futures trading for staff, amid insider trading claims

    TL;DR Breakdown Changpeng Zhao, the CEO of Binance, has revealed that all employees of Binance, including himself, are now barred from participating in futures trading. Description Changpeng Zhao, the CEO of Binance, has revealed that all employees of Binance, including himself, are now barred from participating in futures trading. The move is a part of the cryptocurrency exchange’s ongoing endeavors to prioritize integrity and prevent potential conflicts of interest within its workforce. Binance prohibited from futures trading Zhao revealed that the … Read more Changpeng Zhao, the CEO of Binance, has revealed that all employees of Binance, including himself, are now barred from participating in futures trading. The move is a part of the cryptocurrency exchange’s ongoing endeavors to prioritize integrity and prevent potential conflicts of interest within its workforce. Binance prohibited from futures trading Zhao revealed that the exchange’s employees, including him, are prohibited from futures trading, and the product testing team has a specially assigned quota account. However, he revealed that they hold.   The exchange’s policy requires employees to maintain positions for 90 days before trading, promoting long-term…

    Article 2023年8月19日

  • Everything to know about GTA 6 Play-to-Earn

    TL;DR Breakdown Grand Theft Auto 6 (GTA 6) is anticipated to introduce a play-to-earn system using cryptocurrency rewards, transforming gaming into a potential income source. The rumors suggest Bitcoin might be integrated as an in-game payment method and reward token. As the global gaming landscape continues to evolve, one forthcoming release is causing ripples of anticipation throughout the industry. The Grand Theft Auto (GTA) series is no stranger to innovation and groundbreaking features. The next iteration, GTA 6, is poised to take a quantum leap in game design and player rewards, embracing the crypto revolution. As the excitement builds up, let’s dive deep into this thrilling development in our favorite open-world action adventure. Driving digital rewards in GTA 6 Reports suggest that GTA 6 is set to join the burgeoning play-to-earn gaming landscape by integrating cryptocurrency rewards. This move would mark a monumental upgrade from its successful predecessor, GTA 5. Based on the leaks circulating on the Internet, the new game could provide players with an added incentive to engage by offering them a chance to earn and trade in-game…

    Article 2023年5月28日

  • Europe’s first Spot Bitcoin ETF under Jacobi lists in Amsterdam

    TL;DR Breakdown After more than a year of planning, the Jacobi Bitcoin ETF is officially going live on the Euronext Amsterdam stock exchange. The Guernsey Financial Services Commission (GFSC) will regulate the Jacobi FT Wilshere Bitcoin ETF, which will trade under the ticker “BCOIN.” The listing means a spot bitcoin ETF will be traded in Europe before the United States, despite dozens of applications to the SEC in recent years. Jacobi said it had “implemented a verifiable built-in Renewable Energy Certificate (REC) solution which allows institutional investors to access the benefits of Bitcoin whilst also meeting ESG goals.” Description Europe has surpassed the United States in the launch of the first Bitcoin exchange-traded fund (ETF), with London-based Jacobi Asset Management announcing the product’s debut on Euronext Amsterdam today. The firm initially expected to launch its Bitcoin ETF product last year after getting authorization from the Guernsey Financial Services Commission (GFSC) in October 2021. Europe … Read more Europe has surpassed the United States in the launch of the first Bitcoin exchange-traded fund (ETF), with London-based Jacobi Asset Management announcing the…

    Article 2023年8月16日
TOP