Digital asset manager Valkyrie Investments is the latest company to revise its spot Bitcoin (BTC) exchange-traded fund (ETF) filing with U.S. securities regulators.
Valkyrie submit According to the SEC database, the U.S. Securities and Exchange Commission (SEC) updated the spot Bitcoin ETF on October 30.
The Valkyrie Bitcoin Fund’s updated S-1 registration statement is intended to provide investors with the opportunity to invest in common stocks backed by Bitcoin. The shares represent units of undivided beneficial interest and trust ownership and are expected to trade on the Nasdaq Stock Market under the ticker symbol “BRRR.”
“The information in this prospectus is not complete and is subject to change,” Valkyrie said in the filing, adding that the company may not sell BRRR securities until the registration statement becomes effective.
The revised filing comes about a month after the SEC delayed a decision on the Valkyrie Bitcoin Fund in late September.
Valkyrie’s updated spot Bitcoin ETF joins six other recently revised spot Bitcoin ETF filings from Bitwise. black stone, Fidelity, GrayscaleVanEck and ARK Invest.
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Online crypto ETF analysts say the ongoing Bitcoin ETF revision can be interpreted as a “good sign” of progress and impending approval. Bloomberg ETF analyst James Seyffart believes that Valkyrie’s latest spot Bitcoin ETF update is another evidence of changes behind the scenes.
renew: @ValkyrieFunds Join the prospectus revision train to fight for their place #bitcoin ETF. Things are still going on behind the scenes. pic.twitter.com/z5WAvZtFwE
— James Seyff (@JSeyff) October 30, 2023
At least five known spot Bitcoin ETF filers have yet to update their filings following the recent revision, including firms such as WisdomTree, Invesco & Galaxy, Global X, Hashdex, and Franklin Templeton.
According to reports, SEC Chairman Gary Gensler said that the SEC currently has 8 to 10 possible Bitcoin ETF spot filings waiting for regulatory consideration. explain Late October.
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