Valkyrie Joins Grayscale, Files Securities Registration for Bitcoin ETF
Valkyrie has officially filed a registration of securities with the US Securities and Exchange Commission (SEC) for its Spot Bitcoin ETF. This development, coupled with similar filings from financial giants such as Fidelity, Grayscale, and VanEck, marks a potential turning point for Bitcoin ETF developments in the US.
The flood of filings follows a pivotal meeting between the SEC and major exchanges, as belief solidifies that the years-long wait may soon end.
Key Details:
- Valkyrie submitted a proposed rule change to enable listing a spot Bitcoin ETF.
- Joins Fidelity, Grayscale, VanEck, and others files with the SEC for spot Bitcoin ETF.
- Follows talks between the SEC and NYSE/Nasdaq, per insider sources.
- A Bitwise survey shows advisor skepticism, with only 39% expecting 2024 approval.
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Mounting Evidence Suggests Bitcoin ETF Approvals Coming
Valkyrie is one of over a dozen contenders jockeying to launch such products. However, confidence became palpable this week as heavyweight names pressed forward in apparent anticipation of green lights.
Bloomberg ETF analyst James Seyffart expressed surprise at a Bitwise survey showing just 39% of advisors expect approvals this year. Citing widespread media coverage and 90% expert odds, he suggested years of false starts eroded trust.
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The Bitwise report highlighted that less than half of all advisors expect a spot Bitcoin ETF in 2024. The report also stated that even though only 39% of advisors expect a spot Bitcoin ETF approval in 2024, Bloomberg ETF analysts lean towards the positive side, with 90% voting for a January approval.
However, 88% of the advisors are interested in purchasing Bitcoin once a spot ETF is approved. The survey also pointed out that only 19% of advisors stated their ability to buy crypto in client accounts. Nevertheless, the cryptocurrency community in the US is awaiting the approval of the much-awaited Bitcoin ETF.
