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Valkyrie joins rush with BTC spot ETF application to go with its futures, miners ETFs

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21 June 2023
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Valkyrie joins rush with BTC spot ETF application to go with its futures, miners ETFs

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Cryptocurrency fund supervisor Valkyrie is making use of for a Bitcoin spot exchange-traded fund (ETF), becoming a member of a number of different monetary companies which have filed related purposes with america Securities and Alternate Fee (SEC) within the final week. Valkyrie filed an S-1 registration kind for a Bitcoin spot ETF with the SEC on June 21. In it, the agency indicated that it will search to listing its fund on the Nasdaq beneath the image BRRR. 

Valkyrie is an previous hand at Bitcoin (BTC) futures ETFs. It launched the second BTC futures ETF within the U.S., the Valkyrie Bitcoin Technique ETF (BTF), in October 2021 and launched the Valkyrie Steadiness Sheet Alternatives (VBB) in December of that 12 months. It liquidated VBB in October 2022. Valkyrie additionally runs the Valkyrie Bitcoin Miners ETF (WGMI), which tracks securities of corporations that derive their income or income from BTC mining.

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On Might 16, the company submitted an application for a BTC futures ETF to be known as the Valkyrie Bitcoin Futures Leveraged Technique ETF (BTFD). BTFD can be a fund reasonably than a belief, as is the case for the agency’s proposed BTC spot ETF.

Valkyrie was apparently impressed to take motion by the latest exercise of its rivals. Valkyrie Investments chief funding officer Steven McClurg told Cointelegraph in a Hashing It Out podcast in March that he thought a BTC ETF would solely be potential “in a future administration after the following elections or via legislative motion.”

Associated: Grayscale Bitcoin Trust nears 2023 highs on BlackRock ETF filing as buyers step up

Nevertheless, BlackRock applied to list a BTC spot ETF on the Nasdaq as a belief on June 15. WisdomTree and Invesco filed similar applications on June 20. There are additionally unconfirmed stories that Constancy will file an software for a BTC spot ETF. In the meantime, BTC is rising precipitously, up 6.41% on the time of writing.

Journal: Samsung’s Bitcoin ETF, $700M bust, Coinbase exits Japan: Asia Express