Valkyrie and Bitwise Are the Latest Applicants to the Spot Bitcoin ETF
The U.S. SEC is seeing a flood of applicants to bring the spot Bitcoin Exchange-traded fund (ETF) to the market, and the latest to join the bandwagon are financial giants Valkyrie and Bitwise.
On Wednesday, June 21, Valkyrie filed an S-1 registration form for a spot Bitcoin ETF. They plan to list the fund on the Nasdaq exchange under the ticker of BRRR. Valkyrie has been one of the early participants when it comes to launching Bitcoin derivative products.
Back in October 2021, Valkyrie launched the BTC futures ETF in the U.S. aka the Valkyrie Bitcoin Strategy ETF (BTF). In the December of the same year, the company also launched the Valkyrie Balance Sheet Opportunities (VBB). however, they liquidated VBB in October 2022.
Similarly, Bitwise has also filed a 19b-4 form in order to renew its spot Bitcoin ETF filing. Companies such as Valkyrie, BlackRock, Bitwise, Invesco, and WisdomTree are actively seeking approval for ETFs, all with the common goal of offering investors more accessible and regulated options to engage in the bitcoin market.
These developments highlight the ongoing expansion and maturity of the bitcoin industry, with ETFs emerging as a significant tool for investors who want regulated exposure to bitcoin. However, it’s important to note that in the past the US SEC has rejected several proposals citing lack of consumer protection. But many industry players believe that with BlackRock stepping into the game, things could be different this time around.
Bitcoin Shoots Past $30,000 On ETF Optimism
Ever since BlackRock filed for a spot Bitcoin ETF, Bitcoin has reversed its downward trajectory and has gained more than 20% since then shooting past $30,000. Besides, it has also triggered strong whale activity in the market.
The recent price rally has extended Bitcoin’s market dominance to 50% of the overall crypto market. Along with Bitcoin, other altcoins have also joined the rally. The broader cryptocurrency market has added $118 billion of which Bitcoin has alone contributed $88 billion.
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- How the Crypto Market Could React to the Next Fed Meeting on October 29?
- $1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP
- Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions
- Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
